Manilam Industries Experiences Soft Debut on NSE SME, Stock Opens at ₹55.20 with 20% Discount

Manilam Industries Share Price Faces Weak Debut on NSE SME

Key Figures:

• ₹55.20: Manilam Industries share price at opening
• 20%: Decrease from issue price
• ₹69: Issue price of Manilam Industries shares
• ₹65-₹69: Price range for Manilam Industries shares
• ₹10: Face value of shares
• ₹40 crore: Amount raised through public offering
• 57.9 lakh: Number of shares offered
• ₹46.98 lakh: Fresh issue of shares
• ₹10.92 lakh: Offering for sale of shares

Company Overview

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Manilam Industries India Limited, founded in 2015, specializes in manufacturing and selling Decorative Laminates and Plywood. The company has a diverse product portfolio, including various laminate collections and plywood products for both residential and commercial use.

IPO Details

The company aims to raise ₹40 crore through a public offering of 57.9 lakh shares, which includes a fresh issue of ₹46.98 lakh shares and an offering for sale of ₹10.92 lakh shares. The funds raised will be allocated towards the acquisition of equipment and machinery, installation of solar panels, repayment of loans, working capital, and general corporate needs.

IPO Subscription Status

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The IPO subscription status was 6.25 times on the last day of bidding, indicating strong investor interest in the company.

IPO GMP

The grey market premium (GMP) for Manilam Industries IPO was ₹0, indicating that shares were trading at their issue price of ₹69 with no premium or discount in the grey market.