The scrip was listed at Rs 55.20, a discount of 20% compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.
The counter hit a high of Rs 55.20 and a low of Rs 52.45. About 7.68 lakh shares of the company changed hands at the counter.
Manilam Industries India's IPO was subscribed 4.22 times. The issue opened for bidding on 20 February 2026 and it closed on 24 February 2026. The price band of the IPO was fixed between Rs 65 to Rs 69 per share.
The IPO comprised 57,90,000 equity shares, including a fresh issue of 46,98,000 equity shares and offer for sale (OFS) of 10,92,000 equity shares.
The company intends to utilize the net proceeds for capital expenditure - purchase of equipment/machineries, capital expenditure - purchase and installation of solar panel at its manufacturing plant, repayment in full or in part, of certain loans availed by the company, working capital requirements of the company and expenses for general corporate purposes.
Ahead of the IPO, Manilam Industries India on 19 February 2026, raised Rs 11.30 crore from anchor investors. The board allotted 16.38 lakh shares at Rs 69 per share to 3 anchor investors.
Manilam Industries India is engaged in the manufacturing and sale of decorative laminates, offering products in various thicknesses ranging from 0.7 mm to 1 mm. The products cater to both residential and commercial applications. In addition, the company is also involved in the trading of plywood, available in different grades and sizes, primarily serving the industrial and commercial sectors. The company had a total workforce of 152 employees.
The company recorded revenue from operations of Rs 60.14 crore and net profit of Rs 3.16 crore for the period ended 30 September 2025.