Manilam Industries IPO GMP

February 23, 2026 Written By Mihir Gohel, Reviewed and Fact Checked by Harpal Parmar

Manilam Industries IPO opens for subscription on February 20, 2026, and closes on February 24, 2026, with a total issue size of approx ₹40 Cr comprising 57,90,000 shares at ₹65 – ₹69 per share for NSE SME listing on February 27. Surat-based synthetic textile specialist manufactures dyed yarns and fabrics for apparel/home textiles via integrated weaving facilities with GOTS certification. Manilam Industries IPO provides entry into organized textiles amid e-commerce apparel acceleration and PLI-driven value chain consolidation.

₹00

Latest IPO GMP

Last updated on 26 Feb 2026 19.47

₹69

IPO Offer Price

*cut off price

₹

Listing Price

Listing Date 27/02/2026

Expert Opinions

Market sentiment for Manilam Industries IPO shows measured optimism among SME textile investors, balancing rapid profitability improvement against stagnant revenue concerns. Company strengths include 138% PAT growth to ₹7.38 crore, integrated dyeing-weaving operations optimizing costs, GOTS certification enabling exports, and scalable Surat manufacturing hub serving branded apparel chains.

Risks feature flat 3% topline growth signaling market saturation, litigation exposure, negative cash flow history, high debt burden, and cotton price sensitivity. Valuation analysis for Manilam Industries IPO and year 2025 reveals Return on Equity (ROE) of 24.80%, ROCE of 36.68%, and Net Asset Value (NAV) of ₹147.27, at 2.75x P/BV appearing fully priced versus peers. Long-term investment perspective hinges on e-commerce apparel penetration and PLI-driven value addition execution.

Investor Considerations

Manilam Industries IPO posts solid company performance and fundamentals in FY 2025, achieving revenue of ₹142.16 crore alongside PAT of ₹7.38 crore and 14.11% EBITDA margins from integrated dyeing operations. Synthetic textiles sector outlook accelerates at 10% CAGR fueled by apparel exports and technical fabric localization. IPO Valuation of Financial Year 2025 for Manilam Industries IPO and year shows Price to Book Value of 0.47, PAT Margin of 5.33%, and Debt/Equity of 1.84, presenting deep value entry despite leverage.

Growth prospects target machinery upgrades enhancing polyester capacity 30% and southern distribution expansion. Risk factors include stagnant topline growth signaling competition, litigation overhangs, negative cash conversion cycles, and raw material dependency. Short-term investment goals exploit SME discount pricing, while long-term horizons reward organized consolidation in branded apparel supply chains.