SME IPO Manilam Industries: From issue price, key risks to valuations - 5 ‘must know’ details

The Manilam Industries’ SME IPO opened for subscription on February 20, and bidding will close on February 24. Here is a detailed analysis of the IPO and the business fundamentals of the company before you consider subscribing- SME IPO Manilam Industries: Issue details The company aims to raise Rs 39.95 crores via a combination of 0.47 crore fresh shares, amounting to Rs 32.42 crores, and an offer for sale of 0.11 crore shares, aggregating to Rs 7.53 crores. The IPO price band was set between Rs 65 and Rs 69 per equity share. SME IPO Manilam Industries: Key financials The company recorded a net profit of 7.38 crore in FY25, higher than Rs 3.10 cr reported in FY24. The company’s net profit in FY23 came in at Rs 1.53 crore. The revenue from operations came in at Rs 142.16 crore in FY25, rising 3% from Rs 138.04 crore in FY24. However, the company’s revenue from operations at Rs 148.82 crore was the highest in FY23 in the past three financial years. SME IPO Manilam Industries: Objectives of issue From the total amount raised, Rs 7.35 crore will go to the bank accounts of promoters and other selling shareholders. The remaining amount of Rs 32.42 crore will go to the company. The firm will use Rs 3.7 crore for capital expenditure, Rs 3.5 crore for payment of borrowings, and Rs 16.65 crore for working capex. The remaining amount will be used for general corporate purposes. SME IPO Manilam Industries: Allotment and listing The allotment for the SME IPO is expected to be finalised on February 25, while listing is likely to be on the NSE SME platform on February 27, as per the tentative schedule. SME IPO Manilam Industries: Lot size A retail applicant needs to apply for a minimum of two lots that contain 2,000 shares, each, amounting to Rs 2.76 lakh. The minimum lot size investment for a High Networth Individual is 3 lots of 6,000 shares, totalling Rs 4.14 lakh. SME IPO Manilam Industries: Book runner and registrar NEXGEN Financial Solutions is the book-running lead manager of the IPO, and MAS Services is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers. About Manilam Industries India Manilam Industries India is engaged in the manufacturing and sale of Decorative Laminates and Plywood. The company was founded in 2015. It has developed and launched several laminate collections, including the Artistica Collection, the Vogue Collection, the Dwar Collection, and the Magnificent Collection. In response to market demand and distributor feedback, additional collections such as Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding have also been introduced.