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Manas Polymers and Energies Limited IPO is an IPO of up to 29,04,000 equity shares. It consists of a fresh issue of up to 29,04,000 equity shares. The lot size of the IPO is TBA. The price range is TBA.
The listing of shares will take place on TBA. The shares will be allotted on TBA. The credit of shares to the demat account will take place on TBA, and the initiation of refunds will take place on TBA.
Detail | Information |
---|---|
Upper Price Band (₹) | TBA |
Existing Shares to be Sold | -- |
Fresh Issue | Up to 29,04,000 equity share |
EPS (₹) *Combined for the period April 1, 2023, to January 24, 2024 and January 25, 2024 to March 31, 2024 | 4.19* |
Investor Category | Shares Offered |
---|---|
QIBs Share Offered | Not more than 50% |
Non-Institutional Bidders (NIBs) | Not less than 15% |
Retail Individual Bidders | Not less than 35% |
The Indian plastic industry is one of the leading sectors in the country’s economy. The history of the plastic industry in India dates back to 1957 with the production of polystyrene. Since then, the industry has made substantial progress and has grown rapidly. The industry is present across the country and has more than 2,500 exporters. It employs more than 40,00,000 people in the country and constitutes 30,000 processing units; among these, 85–90% belong to small and medium enterprises. The Government of India intends to take the plastic industry from a current level of ₹3,00,000 crore (US$3,780 crore) of economic activity to ₹10,00,000 crore (US$12,600 crore) in 4–5 years.
India is leading the renewable energy revolution, with a strategic emphasis on solar power to meet its growing electricity needs. The 14th National Electricity Plan (NEP14), introduced in May 2023, aims to double the country's electricity generation capacity by 2032, with solar energy poised to play a pivotal role. India has undergone a notable transformation in its power landscape since 2017, when solar energy constituted merely 1% of its power mix. Envisaging a substantial departure from the coal-dominated trajectory of the past decade, the NEP14 outlines ambitious targets for India. If successfully realised, the plan anticipates a surge in solar power's share from 5% to 25% between 2022 and 2032, marking a pivotal period of expansion. India plans to more than double its electricity generation capacity from 399.5 GW in 2022 to approximately 849 GW by 2032.
Manas Polymers and Energies Limited is primarily engaged in the business of manufacturing and supply of premium food-grade PET preforms, PET bottles, jars, and closure caps. They sell their products, i.e., PET preforms, PET bottles, jars, and closure caps, to the PET (plastics) industry. They are also engaged in renewable power generation and distribution as an independent power producer (IPP).
Existing relationship with suppliers.
They have established and maintained enduring relationships with their suppliers. They receive timely and high-quality supplies of their raw materials because of their partnerships with their suppliers, which makes it possible for them to control their inventory and provide their clients with high-quality products in a timely manner, resulting in repeat business from such clients.
Consistency in quality.
Owing to the expertise of their experienced and trained team forming part of their Quality Division, all their products are manufactured strictly as per the regulatory standards. Their manufacturing facility has a fully equipped quality division with experienced and qualified staff to carry out quality checks and inspections at all the stages of their manufacturing process.
Smooth flow of operations.
They have maintained good relationships with their major clients. They are successful in building a strong client base for their business. Their existing relationships help them to get repeat business from their clients, which has helped them to maintain a long-term working relationship with their clients and improve their customer retention strategy.
The prices of raw materials may fluctuate based on exchange rates, customs and duties levied on imports, or changes in government policies with respect to these materials or the countries supplying the same. They may be unable to make adequate provisions for the price fluctuations and, consequently, any adverse fluctuations that they have not factored in or provided for may adversely affect the results of their operations and their financial condition.
Any adverse developments in Madhya Pradesh, such as economic downturns, changes in local laws, or increased competition, could lead to a substantial loss of revenue. Additionally, natural disasters or unforeseen events in this region may further disrupt their operations and impact their financial performance.
Solar power is highly dependent on weather conditions, and the profitability of their operations depends not only on observed solar conditions at the project site but also on the consistency of those solar conditions. Unfavourable weather conditions, such as the monsoon, could impair the effectiveness of solar power projects, reduce their output beneath their rated capacity, require the shutdown of key equipment, impede the operation of solar power projects, and could materially and adversely affect their forecasted revenues and cash flows.
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Parameter | Manas Polymers and Energies Ltd | Mitsu Chem Plast Ltd | Technopack Polymers Ltd |
---|---|---|---|
Revenue from operations for the year ended March 31, 2024 (₹ in crores) | 19.762* | 311.250 | 12.763 |
P/E | --- | 19.04 | 26.59 |
EPS (Diluted)(₹) | 4.19* | 7.10 | 2.07 |
Return on Net Worth (%) | 33.37* | 12.50 | 6.39 |
NAV per share (₹) | 12.06 | 58.45 | 33.73 |
Anchor Investor Information
The Anchor Investor Bid/ Issue Period shall be one Working Day prior to the Bid/Issue Opening Date.
IPO Registrar and Book Running Lead Managers
Book running lead managers:
Expert Global Consultants Private Limited
Registrar for the IPO is Purva Sharegistry (India) Private Limited
The company earns its revenue through the following sources:
Independent Power Producer: They are engaged in the renewable power generation and distribution business and operate as an independent power producer (IPP) in Madhya Pradesh.
PET (Plastic) Manufacturing and Trading: They manufacture and supply premium food-grade PET preforms, PET bottles, jars, and closure caps to the PET (plastics) industry.
The revenue generated from operations during the period ending on June 30, 2024, aggregated to ₹8.50 crores, of which ₹0.18 crores is from renewable energy and ₹8.32 crores is from the sale of products, representing 97.77% of the total income. The other income for the period ended on June 30, 2024, amounted to ₹0.19 crores, constituting 2.23% of the total income. Their profit after tax for the period that ended on June 30, 2024, amounted to ₹1.18 crores, constituting 13.55% of the total income.
Currently, they market their products in 16 states of India, of which the majority portion of revenue comes from the states of Uttar Pradesh, Madhya Pradesh, Haryana, Jammu and Kashmir, Gujarat, and Rajasthan.
Parameter | FY22 | FY23 | For the Period from April 1, 2023 to January 24, 2024 |
---|---|---|---|
Revenue from operations (₹ crores) | 18.701 | 20.355 | 15.007 |
Profit Before Tax (₹ crores) | 0.459 | 1.141 | 1.539 |
Net profit / (loss) (₹ crores) | 0.474 | 1.081 | 1.169 |
EBITDA (₹ crores) | 1.588 | 2.505 | 3.576 |
EPS (₹) | --- | --- | --- |
Parameter | FY22 | FY23 | For the Period from April 1, 2023 to January 24, 2024 |
---|---|---|---|
Profit before tax (₹crores) | 0.459 | 1.141 | 1.539 |
Net Cash from Operating Activities (₹ crores) | 0.473 | 1.278 | 5.382 |
Net Cash from Investing Activities (₹ crores) | (0.310) | (1.432) | (4.562) |
Net Cash from Financing Activities (₹ crores) | 0.112 | (0.237) | (0.896) |
Cash and Cash Equivalents (₹ crores) | 0.507 | 0.108 | 0.032 |
You can check the allotment status of shares either on the website of the Bombay Stock Exchange (BSE) or on the website of the registrar Purva Sharegistry (India) Private Limited. To check the status on the BSE website:
Follow these steps to know the allotment status on the registrar’s website:
To apply for this IPO:
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
You can read more about Manas Polymers & Energies and its IPO from the company’s red herring prospectus (RHP) here.
The Manas Polymers and Energies Limited IPO has an issue size of up to 29,04,000 equity shares. The IPO opens for subscription on TBA and closes on TBA.
Purva Sharegistry (India) Private Limited is the registrar for this IPO.
You may read more about Manas Polymers and Energies Limited and its IPO from the company’s draft red herring prospectus (DRHP) here.