Steamhouse India and Manika Plastech to raise ₹539cr via IPOs
Business
Two companies, Steamhouse India and Manika Plastech, are hitting the stock market this week, hoping to raise a combined ₹539 crore through their IPOs.
Steamhouse opens for bids on Wednesday and aims for ₹414 crore, while Manika Plastech follows on Friday with a target of ₹125 crore.
Steamhouse India ₹77-81, Manika Plastech ₹40-43
Steamhouse India is setting its share price at ₹77-81 (minimum 185 shares) and plans to use the funds to pay off debt, expand its facilities in Ankleshwar and Panoli, and set up a new steam unit in Dahej.
Manika Plastech's shares are priced at ₹40-43 (minimum 348 shares), with proceeds going toward new machinery, cutting down debt, and general business needs.