Manas Polymers and Energies Launches Rs 23.52 Crore IPO on NSE SME Platform
Manas Polymers and Energies, operating in food-grade PET packaging and renewable energy sectors, is opening its IPO on September 26. The company aims to raise Rs 23.52 crore by issuing 29.04 lakh fresh shares at a price band of Rs 76-81 per share. The IPO will be open for subscription from September 26-30, with a minimum retail investment of Rs 2.59 lakh for 3,200 shares. The company plans to list on the NSE SME platform, with allotment scheduled for October 1. The funds will primarily be used to set up a solar power plant and purchase fixed assets. The company's financials show significant growth, with Q1 FY 2025 revenue at Rs 8.69 crore and profit at Rs 1.18 crore, compared to FY 2024's total income of Rs 5.03 crore and profit of Rs 0.79 crore. Currently, the grey market premium stands at zero, indicating neutral market sentiment.
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Manas Polymers and Energies, a company operating in food-grade PET packaging and renewable energy sectors, is set to open its Initial Public Offering (IPO) on September 26. The IPO aims to raise Rs 23.52 crore through the issuance of 29.04 lakh fresh shares.
IPO Details
- Subscription Period: September 26-30
- Price Band: Rs 76-81 per share
- Minimum Retail Investment: Rs 2.59 lakh for 3,200 shares
- Listing: NSE SME platform
- Allotment Date: October 1
Company Overview
Manas Polymers and Energies operates in two distinct sectors:
- Manufacturing of food-grade PET packaging products
- Renewable energy as an independent power producer
Financial Performance
| Period | Total Income | Profit |
|---|---|---|
| FY 2024 | Rs 5.03 crore | Rs 0.79 crore |
| Q1 FY 2025 | Rs 8.69 crore | Rs 1.18 crore |
The company has shown significant growth in the first quarter of FY 2025, with both revenue and profit increasing substantially compared to the full fiscal year 2024.
Utilization of IPO Proceeds
The funds raised through the IPO will be allocated as follows:
- Rs 20.20 crore for setting up a solar power plant
- Rs 2.51 crore for purchasing fixed assets
Market Sentiment
As of now, the grey market premium for Manas Polymers and Energies IPO stands at zero, indicating neutral market sentiment towards the offering.
Investors interested in the Manas Polymers and Energies IPO should conduct thorough research and consider their risk appetite before making an investment decision. As with all investments, it's advisable to consult with a financial advisor to determine if this IPO aligns with individual investment goals and strategies.
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