PNN
Mumbai (Maharashtra) [India], October 1: Manas Polymers and Energies Limited priced its IPO in the ₹76-₹81 per share range and, by 5:10 PM on the final day, drew steady investor interest. The ₹23.52 crore issue accumulated 1.24x subscriptions, up from day two's 0.05x, with total applications numbering 140. The cumulative bid amount stood at ₹27.68 crore, surpassing the offer size.
On Day Three, institutional demand excluding anchors led the pack, with qualified institutional buyers at 6.66x, improving from Day Two's 0.00x. Non-institutional investors showed moderate interest at 1.78x, rising from day two's 0.03x, while individual investors contributed 0.19x, up from day two's 0.06x.
For context, Day Two registered an overall 0.05x subscription, with individual investors at 0.06x, non-institutional at 0.03x, and ex-anchor FIIs at 0.00x. Day One kicked off with 0.02x overall, and no significant participation from FIIs or ex-anchor buyers.
About the company, Manas Polymers and Energies Limited manufactures premium food-grade PET preforms, bottles, jars, and caps. It also operates as an independent power producer, engaged in renewable power generation and distribution across multiple industries, including automotive, construction, packaging, agriculture, and energy. The company holds ISO certifications for quality, environmental management, and risk management, and employs 27 people as of June 2024.
What investors should conside:r Early-stage demand favored institutional buyers, particularly ex-anchor FIIs, on day three. Retail and high-net-worth participation remained modest, which aligns with typical SME listing patterns where institutional demand drives initial traction. The forthcoming listing will depend on broader market sentiment and post-listing demand for SME names.
Next steps: Investors awaiting listing should monitor final allotment details and subsequent price action after listing. Analysts may evaluate growth potential in both polymer packaging and renewable energy segments, alongside the company's ISO-driven risk and environmental management framework.
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