Manika Plastech debuts at ₹43 IPO, shares dip nearly 5%
Business
Manika Plastech made its stock market debut today, opening at ₹43, right at its IPO price, but the excitement didn't last long as shares dipped nearly 5% soon after.
Despite the drop, the buzz around its IPO was real: it was oversubscribed more than 28 times, showing strong interest from investors.
Manika Plastech raised ₹125.49 cr
The company raised ₹125.49 crore through a mix of new shares and an offer for sale, with a focus on precision-engineered packaging for things like batteries and dairy products.
Even with the rocky start on day one, Manika Plastech is still valued at a solid ₹476.07 crore and has built a reputation in several key industries.