Manilam Industries IPO

Manilam Industries India IPO is a book-building IPO of ₹39.95 crores, comprising a fresh issue of 0.47 crore shares worth up to ₹32.42 crores and an offer for sale (OFS) of 0.11 crore shares worth up to ₹7.53 crores. The price band for this IPO is set at ₹65 to ₹69 per share, and the lot size for an application is 2,000. The minimum investment essential by an individual investor (retail investor) is ₹2,76,000 (4,000 shares). The IPO will open for subscription from Feb 20 to 24, 2026, on the NSE SME platform, with a tentative listing date of Feb 27, 2026. 

Company Background

Manilam Industries India Ltd. was formed in 2015 and is a fast-growing manufacturer in the field of decorative laminates and plywood. The company was initially a partnership concern and has now developed into a leading B2B player in the interior infrastructure industry. The company is engaged in providing high-quality surfacing solutions for residential as well as commercial spaces through its diversified product offerings and expansion strategy to create a strong domestic presence in the competitive Indian decorative market.

Operations and Product Range

Facility and Production

Manilam Industries India Ltd. has a state-of-the-art manufacturing unit in Bareilly, Uttar Pradesh, measuring 20,650 square meters. With four functional presses, the company has an enormous production capacity of 5 million sheets per year. This is a centrally located unit, making it easily accessible to the major business centers in India. Recently, the company announced additional capital outlays for new machinery and solar panels to increase production efficiency and adopt eco-friendly manufacturing processes.

Brand and Market presence

Manilam Industries India Ltd. has been able to create a strong brand identity through its unique collections such as Artistica, Vogue, and Dwar. Its presence in the market is further strengthened by its massive network of 5,000+ carpenters and 15,000+ customers. To further engage with its customers, Manilam Industries India Ltd. has opened Experience Centers in Bangalore, Delhi, and Chennai. These centers act as service depots for its distributors and customers.

Revenue Channels

• • Decorative laminate sales through a nationwide B2B distributor network.
• • Engaging in the distribution of multiple plywood grades and sizes, specifically targeting industrial and commercial sectors.
• • Service depots that facilitate real-time order fulfillment and local stock management for regional markets.

Management and shareholding

Promoter and Shareholding

Manilam Industries India Ltd. is led by its major promoters: Mr. Umesh Kumar Nemani, Mr. Manoj Kumar Agrawal and Mr. Aman Kumar Nemani, together with Manilam Retail India Private Ltd. Prior to the IPO, the major promoters held a major 78.79% stake in the company. After the public issue, their shareholding is expected to change to about 61.85%, thus ensuring that they maintain control while also encouraging public investment to facilitate the next growth level.

Board Members

The management team at Manilam Industries India Ltd. is headed by Umesh Kumar Nemani and Manoj Kumar Agrawal (Managing Directors) and Aman Kumar Nemani (Whole-Time Director). It also includes Sanjay Kumar Agarwal and Sreyas Agrawal (non-executive directors), together with Rajesh Jalan and Shikha Gupta (independent directors). This diverse board is responsible for the company’s corporate governance, while the company’s CFO, Niraj Kumar Agarwal, and CS Nidhi Dhelia handle the company’s financial reporting and strict regulatory compliance as it undergoes its transition as a public company.