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Former MLB star Matt Holliday's luxurious estate in Oklahoma has hit the market, boasting 62 acres of prime land including a private baseball field with professional-grade lighting. The stunning home, constructed in 2022, offers five spacious bedrooms and seven bathrooms. Among the standout features are a magnificent swimming pool and an indoor sports court. Originally listed for $12 million, it is now available for $9.8 million. View More
The property dispute was related to four women who jointly purchased land. Each held one-fourth undivided share. One of them later gave her brother-in-law a general power of attorney (GPA) because she was living in West Bengal, while he was based in Delhi. View More
The property dispute was related to four women who jointly purchased land. Each held one-fourth undivided share. One of them later gave her brother-in-law a general power of attorney (GPA) because she was living in West Bengal, while he was based in Delhi. View More
The property dispute was related to four women who jointly purchased land. Each held one-fourth undivided share. One of them later gave her brother-in-law a general power of attorney (GPA) because she was living in West Bengal, while he was based in Delhi. View More
The tribunal held that a complaint seeking relief under RERA was not maintainable before the Karnataka RERA. View More
Despite the benefits of a cluster-based industrial ecosystem, MSMEs in Tamil Nadu continue to face challenges such as limited awareness of government schemes, cumbersome processes, and a higher dependence on exports, which hold them back from realising their full growth potential. View More
Tamil Nadu, the second-largest state economy after Maharashtra with Rs 35.29 lakh crore gross state domestic product (GSDP) in 2025-26, has a flourishing MSME (micro, small, and medium enterprise) ecosystem. Spread across sectors such as textiles, automotive, engineering, food processing, leather, and electronics, the state has more than 62.2 lakh registered MSMEs, as per data from Udyam. But while Tamil Nadu has all the ingredients of a strong MSME ecosystem starting from a deep manufacturing base, established industrial clusters, skilled talent, and a growing presence across sectors, MSMEs in the state still grapple with challenges relating to limited awareness of government schemes, cumbersome processes, and a higher dependence on exports. Raksha Sharda, Vice President, Primus Partners, says Tamil Nadu benefits from a broader presence of its cluster-based industrial ecosystem. “Unlike ecosystems concentrated around a few large cities, Tamil Nadu has developed specialised clusters across multiple regions, creating strong supplier networks and local capabilities. This gives its MSMEs a natural advantage in moving from standalone enterprises to globally integrated value chains.” The challenge now, she says, is to move from scale to productivity, technology adoption, and global market readiness, particularly among microenterprises. “The objective should shift from simply creating more MSMEs to creating more globally competitive MSMEs. This requires a focused agenda around Industry 4.0 adoption , quality certification, product design, R&D, export readiness, and integration with global supply chains . Tamil Nadu should identify high-potential clusters and provide shared testing, technology, design, and market-access infrastructure, allowing smaller firms to achieve capabilities that would otherwise be unaffordable individually,” she emphasises. Industry stakeholders also support her views. K.E. Raghunathan, National Chairman, Association of Indian Entrepreneurs, says that one major challenge is the excessive dependence on exports across sectors. “Tamil Nadu has traditionally had strong export markets. Textiles, leather, and several other sectors are export-oriented. The challenges include fluctuations in dollar exchange rates and the high cost of manufacturing in Tamil Nadu. Land costs are high, and labour costs have also increased. Electricity tariffs have gone up, so the overall operational cost is becoming a challenge,” he says. Live Events Raghunathan says that another challenge for Tamil Nadu is the growing cost advantage Andhra Pradesh offers manufacturing, driven by lower land prices. “Andhra is also taking a decentralised approach to its expansion plans, and a lot of corporate investment is coming into Andhra that we are currently missing out on in Tamil Nadu.” Raghunathan believes marketing support should be planned to radically improve things on the ground. He suggests that the government immediately launch a ‘Made in Tamil Nadu’ campaign and set up facilitation counters in markets where India has favourable free trade agreements (FTAs). Another factor impending MSME growth in the state is the lack of awareness regarding available schemes for the sector. Sridevi Arunachalam, Founder of the Indo-UAE Economic Chamber of Commerce, says there is insufficient know-how on how to apply for them and approach the relevant authorities to access such schemes. “That awareness is not really available to everyone. When it comes to the benefits, people approaching the MSME department and trying to access these opportunities do have possibilities. But there are still a lot of procedures involved. The process is not very user-friendly. It can become a long and tedious process,” she says. Arunachalam says that the government needs to increase its outreach programmes and create more platforms where entrepreneurs can engage with officials. “They should clearly tell entrepreneurs how much funding is available and what schemes have already been allocated for them. That is largely missing. At the end of the day, the government says it is doing a lot and that people are not availing themselves of the schemes. But how will people avail themselves of them if they don’t know about them? That is the catch-22,” she rationalises. Taking note of such aspects can also help position Tamil Nadu as a significant global MSME hub. Sharda of Primus Partners says that Tamil Nadu should position its MSME strategy around one central ambition: making the state a global production and innovation platform, not merely a large base of small enterprises. “The next phase will depend on helping MSMEs scale, adopt technology, and become suppliers to global value chains. If finance, technology, skills, and market access are brought together at the cluster level, Tamil Nadu can convert its existing industrial depth into a significant global competitive advantage,” she elucidates. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!
Hero Motors IPO opened for subscription on September 16 and was subscribed 17% on Day 1. The Rs 1,000 crore issue has a grey market premium of 23%, while brokerages cite its automotive technology portfolio and long-term growth potential. View More
The much-awaited Hero Motors IPO opened for subscription today, September 16, 2026. On the first day of bidding, the issue was subscribed 17% overall, against the 8.86 crore shares on offer. The retail portion was subscribed 26%, against the 4.43 crore shares reserved for retail investors. The issue will remain open for subscription until September 18, 2026. Adding to the buzz, Hero Motors is currently commanding a 23% premium in the grey market. If the current GMP trend holds until listing, it suggests market participants are anticipating a potentially strong listing gain. The Rs 1,000 crore Hero Motors IPO is a book-built issue comprising a fresh issue of 7.14 crore shares worth Rs 600 crore and an offer for sale (OFS) of 4.76 crore shares worth Rs 400 crore. The IPO has a price band of Rs 79–Rs 84 per share, with a minimum lot size of 178 shares. At the upper end of the price band, retail investors will need to shell out a minimum of Rs 14,952 to bid for one lot. Live Events Hero Motors IPO opens for subscription on Sep 16, 2026 and will close on Sep 18, 2026. The allotment for the Hero Motors IPO is expected to be finalised on September 21, 2026. Hero Motors IPO will list on the NSE and BSE with a tentative listing date fixed as September 23, 2026. ICICI Securities Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. is acting as the registrar. Anchor investors Hero Motors raised Rs 299.99 crore from anchor investors by allotting 3,57,14,284 equity shares at Rs 84 per share. The anchor book saw participation from several marquee institutions, including ICICI Prudential Life Insurance Company Limited , 3P India Equity Fund 1M, Edelweiss Life Insurance Company Limited, Societe Generale – ODI, and ASAS Global Fund Incorporated VCC Sub Fund, among others. Hero Motors IPO subscription status On Day 1 of bidding, as of 10:20 am, the Hero Motors IPO was subscribed 17% overall, against the 8.86 crore shares offered. Retail Individual Investors (RIIs): The retail portion was subscribed 26%, against 4.43 crore shares on offer. Non-Institutional Investors (NIIs): The NII category was subscribed 19%, against 1.89 crore shares offered. Qualified Institutional Buyers (QIBs): The QIB portion had not received any bids so far, against 2.53 crore shares on offer. Hero Motors IPO GMP The IPO is currently commanding a Grey Market Premium (GMP) of Rs 19, translating to a 23% premium over the upper price band of Rs 84. Based on the current GMP, Hero Motors IPO’s estimated listing price is around Rs 103, indicating a potential listing gain of nearly 23% if the GMP holds until listing. Note: GMP is an unofficial market indicator and can change before listing. It does not guarantee the actual listing price or returns. Hero Motors IPO issue objectives The company plans to use a portion of the IPO proceeds to repay, prepay or redeem certain outstanding borrowings, either fully or partially. It will also allocate funds towards capital expenditure, including purchasing equipment to expand the capacity of its facility in Gautam Buddha Nagar, Uttar Pradesh. The remaining proceeds will be used to support the company’s inorganic growth plans, including potential acquisitions and other strategic initiatives. A portion of the funds will also be utilised for general corporate purposes. Financial performance Hero Motors reported a 9% increase in total income, rising from Rs 1,111.23 crore in FY25 to Rs 1,216.74 crore in FY26. The company’s profit after tax (PAT) grew 26%, from Rs 32.80 crore in FY25 to Rs 41.17 crore in FY26, reflecting an improvement in profitability during the year. About Hero Motors Incorporated in April 1998, Hero Motors Limited is an automotive technology company engaged in designing, developing and manufacturing powertrain solutions for OEMs across the US, Europe, India and ASEAN. Its products cater to electric and non-electric applications across two-wheelers, e-bikes, passenger and commercial vehicles, off-road vehicles and eVTOLs. The Company specialises in CVTs, EV transmissions, electric motors, integrated drive units and gear sets, and has a strong position in the global e-bike powertrain market. It is the only Indian manufacturer producing and exporting CVT hubs and integrated electric powertrain products for e-bikes. Its operations comprise Powertrain Solutions—including Gears & Transmissions (G&T) and Bike Powertrain (BPT)—and Alloys & Metallics (A&M), which supplies sheet metal and tubular components to automotive OEMs. Hero Motors has established relationships with customers including BMW, Ducati, Enviolo, Formula Motorsport, Hummingbird EV and HWA, supported by in-house engineering and global technology partnerships. As of March 31, 2026, the Company had 1,388 permanent employees and 707 contract labourers. Should you subscribe? According to Anand Rathi, Hero Motors has built a differentiated position in automotive technology with capabilities across design, engineering, prototyping and manufacturing. Its portfolio spans CVTs, EV transmissions, electric motors, drive units and gear sets, giving it exposure to both ICE and electric mobility. The company also has a strong presence in e-bike powertrains, while investments in Hewland and its Yamaha Motor Japan JV strengthen its transmission and electric motor capabilities. With operations across India, the UK and Thailand, Hero Motors has a global footprint. "At the upper price band, the company is valued at P/E of 92.6x and EV/EBITDA of 34.38x with respect to its FY26 earnings and market cap of Rs.38,154 million post issue of equity shares. We believe that the IPO is fully priced and recommend a 'Subscribe-Long Term' rating to the IPO. According to Master Capital Services, India’s automotive and two-wheeler industry is poised for healthy growth, driven by rising vehicle demand, premiumisation and increasing adoption of advanced powertrain technologies. The two-wheeler industry is projected to grow at 6–7% CAGR to 29–31 million units by FY31, while electrification is expected to create significant new growth opportunities. Hero Motors is positioned to benefit from these trends through its Powertrain Solutions and Alloys & Metallics businesses, with exposure to both ICE and EV platforms. Its expertise in electric motors, EV transmissions and e-bike powertrains provides further exposure to the rapidly expanding electric mobility segment. Investors may consider the IPO as a potential long-term investment opportunity. Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. 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Veegaland Developers’ Rs 210-crore IPO allotment is expected to be finalised after the issue received 14.60 times subscription. Its Rs 10 grey market premium suggests a modest 7% listing gain, with shares scheduled to debut on the NSE and BSE on September 18. View More
Investors in the Veegaland Developers IPO could receive the much-awaited allotment update today, September 16, after the public issue was subscribed 14.60 times overall. With the basis of allotment expected to be finalised, investors are now waiting to find out whether they have received shares ahead of the company’s stock-market debut. The Rs 210-crore Veegaland Developers IPO is expected to finalise its share allotment today. Once the allotment is completed, investors will be able to check their application status online. The company’s shares are scheduled to be listed on both the BSE and NSE on September 18, 2026. Meanwhile, the IPO’s grey market premium (GMP) is currently around 7%, indicating market expectations of a potentially positive listing. However, GMP is an unofficial indicator and can fluctuate before the shares are listed. It should not be considered a guarantee of the listing price or gains. The IPO opened for subscription on September 10, 2026, and closed on September 15, 2026. The issue was subscribed 14.60 times overall. The retail investor portion was subscribed 9.95 times, while the Non-Institutional Investors (NIIs) category saw 19.41 times subscription. The Qualified Institutional Buyers (QIBs) portion was subscribed 19.13 times. The Rs 210-crore IPO consists entirely of a fresh issue of 1.50 crore shares. As there is no offer-for-sale (OFS) component, the proceeds from the issue will go directly to the company. Live Events Veegaland Developers has set the IPO price band at Rs 130–Rs 140 per share, with a lot size of 107 shares. At the upper end of the price band, retail investors would need to invest Rs 14,980 to apply for one lot. Cumulative Capital Pvt. Ltd. is the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. is acting as the registrar. Investors can verify their allotment through either of the following platforms: 1. Registrar’s Website Visit the MUFG Intime India IPO allotment page (https://in.mpms.mufg.com/Initial_Offer/public-issues.html)Select Veegaland Developers from the drop-down menu.Enter your PAN, application number, or DP/Client ID.Click Submit to view your allotment status. 2. NSE Website ( https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids) Go to NSE IPO Allotment pageSelect EquityChoose Veegaland DevelopersEnter your application number and PAN. 3.BSE Website ( https://www.bseindia.com/investors/appli_check) Select Equity under issue type.Select Veegaland Developers from the dropdown.Enter your application number OR PAN number.And fill the captcha and click search to view allotment. Veegaland Developers IPO GMP Today The Veegaland Developers IPO is currently trading at a grey market premium (GMP) of Rs 10, or approximately 7%, above the upper issue price of Rs 140 per share. At the prevailing GMP, the estimated listing price is around Rs 160 per share. However, investors should keep in mind that GMP is an unofficial and indicative measure and does not guarantee the stock’s actual listing price. The premium may change ahead of listing, influenced by investor sentiment, subscription levels and broader market conditions. IPO Objects of the Issue The company plans to use the net proceeds from the IPO primarily to fund part of the development costs for its ongoing and upcoming projects. Around Rs 119.83 crore has been earmarked for this purpose. The remaining proceeds will be used for potential land acquisitions that have not yet been identified and for general corporate purposes. Overall, the IPO proceeds are aimed at supporting the company’s project pipeline and future expansion. Financial Performance Veegaland Developers Ltd. reported a 30% year-on-year increase in total income, rising from Rs 196.22 crore in FY25 to Rs 254.16 crore in FY26, indicating healthy growth in the company’s revenue during the period. Profitability also improved, with profit after tax (PAT) climbing 30% from Rs 20.43 crore in FY25 to Rs 26.61 crore in FY26. The growth in both income and profit points to a stronger financial performance in FY26. About Veegaland Developers Incorporated in 2007, Veegaland Developers Ltd. is a real estate developer focused on residential, commercial and mixed-use projects. The company handles the planning, construction and execution of its developments, with an emphasis on quality, modern design and timely delivery. As of June 30, 2026, the company had 10 completed, 12 ongoing and 3 upcoming projects. It has completed 10 residential projects covering 11.05 lakh sq. ft. of saleable area, comprising 692 units. The company had 127 full-time employees as of the same date. Its key strengths include a track record of timely project completion, an integrated land-sourcing and development model, a diversified project pipeline, and an experienced promoter and management team. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Hero Motors IPO GMP: Hero Motors IPO opened for subscription on September 16, 2026, with strong investor demand. The issue garnered 1.38 times subscription on its first day of bidding. Anchor investors subscribed to shares worth Rs 299.99 crore at Rs 84 per share. The company plans to use IPO proceeds for debt repayment and capital expenditure. Hero Motors IPO is expected to list on NSE and BSE on September 23, 2026. View More
The much-awaited Hero Motors IPO opened for subscription today, September 16, 2026, kicking off a three-day bidding window for investors. Hero Motors IPO received strong demand from investors on the first day of subscription, garnering 12,26,40,042 share bids against 8,86,07,596 shares on offer, according to NSE data. This translates to an overall subscription of 1.38 times. The issue will remain open until September 18, 2026. Adding to the buzz, Hero Motors is currently commanding a 23% premium in the grey market, indicating that investors are expecting a potentially strong listing gain if the current GMP trend holds. The Rs 1,000 crore Hero Motors IPO is a book-built issue comprising a fresh issue of 7.14 crore shares worth Rs 600 crore and an offer for sale (OFS) of 4.76 crore shares worth Rs 400 crore. The IPO has a price band of Rs 79-Rs 84 per share, with a minimum lot size of 178 shares. At the upper end of the price band, retail investors will need to shell out a minimum of Rs 14,952 to bid for one lot. Live Events Also Read: Hero Motors IPO GMP Live Updates The allotment is expected to be finalised on September 21, 2026. Hero Motors IPO will list on the NSE and BSE, with a tentative listing date of September 23, 2026. ICICI Securities Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. is acting as the registrar. Subscription Status Retail investors led the demand across investor categories, subscribing to 2.23 times their allocated quota. This was followed by Non-Institutional Investors (NIIs), who oversubscribed their reserved portion by 1.25 times. However, demand from Qualified Institutional Buyers (QIBs) remained muted, with the category yet to fully subscribe to its reserved quota. QIBs placed bids for 1,88,146 shares against 2,53,16,456 shares on offer, resulting in a subscription of around 1%. Anchor investors Hero Motors Limited raised Rs 299.99 crore from anchor investors. The company informed the bourses that it allocated 3,57,14,284 equity shares at Rs 84 per share to anchor investors. Some of the marquee institutions that participated in the anchor round include ICICI Prudential Life Insurance Company Limited , 3P India Equity Fund 1M, Edelweiss Life Insurance Company Limited, Societe Generale - ODI and ASAS Global Fund Incorporated VCC Sub Fund, among others. Hero Motors IPO GMP The IPO is currently commanding a grey market premium (GMP) of Rs 19, translating into a 23% premium over the upper price band of Rs 84. Based on the current GMP, Hero Motors IPO’s estimated listing price is around Rs 103, indicating a potential listing gain of nearly 23% if the GMP holds until listing. Note: GMP is an unofficial market indicator and can change before listing. It does not guarantee the actual listing price or returns. Also Read: NSE IPO faces traffic jam: Will 10 other issues dent demand for 2026’s biggest offer? Hero Motors IPO issue objectives The company plans to use a portion of the IPO proceeds to repay, prepay or redeem certain outstanding borrowings, either fully or partially. It will also allocate funds towards capital expenditure, including the purchase of equipment to expand the capacity of its facility in Gautam Buddha Nagar, Uttar Pradesh. The remaining proceeds will be used to support the company’s inorganic growth plans, including potential acquisitions and other strategic initiatives. A portion of the funds will also be utilised for general corporate purposes. Financial performance Hero Motors reported a 9% increase in total income, rising from Rs 1,111.23 crore in FY25 to Rs 1,216.74 crore in FY26. The company’s profit after tax (PAT) grew 26%, from Rs 32.80 crore in FY25 to Rs 41.17 crore in FY26, reflecting an improvement in profitability during the year. About Hero Motors Incorporated in April 1998, Hero Motors Limited is an automotive technology company engaged in designing, developing and manufacturing powertrain solutions for OEMs across the US, Europe, India and ASEAN. Its products cater to electric and non-electric applications across two-wheelers, e-bikes, passenger and commercial vehicles, off-road vehicles and eVTOLs. The company specialises in CVTs, EV transmissions, electric motors, integrated drive units and gear sets, and has a strong position in the global e-bike powertrain market. It is the only Indian manufacturer producing and exporting CVT hubs and integrated electric powertrain products for e-bikes. Its operations comprise Powertrain Solutions, including Gears & Transmissions (G&T) and Bike Powertrain (BPT), and Alloys & Metallics (A&M), which supplies sheet metal and tubular components to automotive OEMs. Hero Motors has established relationships with customers including BMW, Ducati, enviolo, Formula Motorsport, Hummingbird EV and HWA, supported by in-house engineering and global technology partnerships. As of March 31, 2026, the company had 1,388 permanent employees and 707 contract labourers. Also Read: SS Retail IPO opens today: GMP signals 31% listing gain. Here's all you need to know Should you subscribe? According to Anand Rathi, Hero Motors has built a differentiated position in automotive technology, with capabilities across design, engineering, prototyping and manufacturing. Its portfolio spans CVTs, EV transmissions, electric motors, drive units and gear sets, giving it exposure to both ICE and electric mobility. The company also has a strong presence in e-bike powertrains, while investments in Hewland and its Yamaha Motor Japan JV strengthen its transmission and electric motor capabilities. With operations across India, the UK and Thailand, Hero Motors has a global footprint. “At the upper price band, the company is valued at a P/E of 92.6x and an EV/EBITDA of 34.38x based on its FY26 earnings, with a post-issue market capitalisation of Rs 38,154 million. We believe that the IPO is fully priced and recommend a ‘Subscribe-Long Term’ rating to the IPO,” Anand Rathi said. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Manika Plastech IPO saw strong investor demand, with overall subscription reaching 28.14 times. Retail investors showed significant interest, subscribing their portion 22.72 times. The company plans to use IPO proceeds for capital expenditure and debt repayment. Manika Plastech reported a 6% income increase and 16% profit growth. The company manufactures rigid polymer packaging products for various industries. View More
Manika Plastech IPO drew a strong response from investors on the third day of bidding, with the issue subscribed 28.14 times overall, according to NSE data. The issue currently commands a grey market premium (GMP) of 7%, down sharply from the earlier premium of 26%. At the prevailing GMP, the IPO could potentially see a positive listing gain . However, grey market premiums are unofficial indicators and can fluctuate before shares are listed. On the second day of bidding, the issue was subscribed 8.30 times overall. The retail investor segment witnessed stronger demand, with the portion subscribed 11.45 times against the 1.07 crore shares reserved for retail investors . The Manika Plastech IPO is a Rs 125.50 crore book-built issue, comprising a fresh issue of 2.15 crore shares aggregating to Rs 92.50 crore and an offer for sale (OFS) of 76.74 lakh shares worth Rs 33 crore. The IPO opened for subscription on September 11, 2026, and the bidding period will close on September 16, 2026. The basis of allotment is expected to be finalized on September 17, while the company's shares are tentatively scheduled to debut on both the NSE and BSE on September 21, 2026. The company has fixed the IPO price band at Rs 40–Rs 43 per share. The lot size is 348 shares, requiring retail investors to make a minimum investment of Rs 14,964 when applying at the upper end of the price band. Live Events Pantomath Capital Advisors Pvt. Ltd. is the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. is acting as the registrar to the IPO. Manika Plastech IPO Subscription Status Retail Individual Investors (RIIs): The retail portion was subscribed 22.72 times against 1.07 crore shares reserved for the category. Non-Institutional Investors (NIIs): The NII portion saw subscription of 63.09 times, with bids coming in against the 46.19 lakh shares available for the category. Qualified Institutional Buyers (QIBs): The QIB portion was subscribed 10.94 times against the 59.87 lakh shares on offer. Manika Plastech IPO GMP The Grey Market Premium (GMP) for the Manika Plastech IPO currently stands at Rs 3 per share, indicating a 7% premium over the upper end of the IPO price band of Rs 43. Based on the latest GMP, the estimated listing price of Manika Plastech shares is around Rs 46 per share. GMP Note: The Grey Market Premium is an unofficial indicator of market sentiment and is not regulated or guaranteed. GMP can fluctuate based on market conditions, investor demand and other factors. The actual listing price may vary significantly from the GMP-based estimate. IPO Objects of the Issue The company proposes to utilise the net proceeds of the IPO primarily towards funding capital expenditure for the purchase of plant and machinery, with an estimated allocation of Rs 54.93 crore. A further Rs 15.00 crore is proposed to be used for the repayment and/or pre-payment, in part or full, of certain borrowings. The remaining proceeds will be utilised for general corporate purposes, taking the total issue size to Rs 69.93 crore. Financial Performance Manika Plastech Ltd.’s total income increased by 6% from Rs 412.59 crore in FY25 to Rs 437.26 crore in FY26, reflecting steady growth in revenue during the year. Profit after tax (PAT) rose by 16% from Rs 19.33 crore in FY25 to Rs 22.40 crore in FY26, indicating an improvement in the company’s profitability. About Manika Plastech Ltd. Incorporated in 1996, Manika Plastech Limited manufactures rigid polymer packaging products, including battery casings, pails and thinwall containers for industrial and consumer applications. The Company offers end-to-end packaging solutions covering product design, raw material sourcing, manufacturing, heat sealing, labelling, quality assurance and delivery. It also provides customized packaging and manufactures automotive battery casings as per Japanese and German standards, including JIS and DIN. Its diversified customer base spans automotive, energy storage, telecommunications, paints, lubricants, agrochemicals, construction chemicals, food and dairy, among other industries. During the three months ended June 30, 2026 and the preceding three Fiscals, the Company served 168–242 customers across 24 states and union territories. Its top 20 customers had an average relationship tenure of over 10 years as of June 30, 2026. Its long operating history and diversified customer base help reduce dependence on any single customer or industry. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. 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