In 2025, India’s IPO market continues to see investor interest across niche sectors. Manas Polymers and Energies Limited is entering the market with its IPO, giving investors a chance to invest in a company engaged in the manufacture of food-grade PET preforms, bottles, jars, and caps, along with renewable power generation. The company is set to open its IPO on September 26, 2025, and close on September 30, 2025, with listing planned on NSE SME around October 6, 2025.
About Manas Polymers and Energies Ltd.
Incorporated in January 2024, Manas Polymers and Energies manufactures PET preforms, bottles, jars, and caps, catering to automotive, construction, packaging, agriculture, and energy sectors. Additionally, the company is active in renewable power generation as an independent power producer (IPP).
The company focuses on R&D and sustainable solutions, meeting modern industrial requirements while maintaining minimal environmental impact. Manas Polymers holds ISO certifications for:
- ISO 9001:2015 – Quality Management Systems
- ISO 14001:2025 – Environmental Management
- ISO 3100:2018 – Risk Management
As of June 30, 2024, the company employs 27 people.
Competitive Strengths:
- Client-driven business with efficient in-house processing
- Experienced management team
- Strong supplier relationships
- Consistent quality and smooth operational flow
Manas Polymers IPO Details
The Manas Polymers IPO is a book building issue of ₹23.52 crore, entirely a fresh issue of 0.29 crore shares.
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Sep 26, 2025 |
| IPO Close Date | Sep 30, 2025 |
| Tentative Allotment | Oct 1, 2025 |
| Initiation of Refunds | Oct 3, 2025 |
| Credit of Shares to Demat | Oct 3, 2025 |
| Tentative Listing Date | Oct 6, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Sep 30, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹10 per share |
| Issue Price Band | ₹76 – ₹81 per share |
| Lot Size | 1,600 shares |
| Total Issue Size | 29,04,000 shares (₹23.52 Cr) |
| Reserved for Market Maker | 1,47,200 shares (₹1.19 Cr) |
| Net Offered to Public | 27,56,800 shares (₹22.33 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Shareholding Pre-Issue | 48,72,000 shares |
| Shareholding Post-Issue | 77,76,000 shares |
Investor Category Reservation:
| Investor Category | Shares Offered |
| QIB | Not more than 10.10% |
| Retail | Not less than 65% |
| NII | Not more than 24.90% |
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 3,200 | ₹2,59,200 |
| Retail (Max) | 2 | 3,200 | ₹2,59,200 |
| S-HNI (Min) | 3 | 4,800 | ₹3,88,800 |
| S-HNI (Max) | 7 | 11,200 | ₹9,07,200 |
| B-HNI (Min) | 8 | 12,800 | ₹10,36,800 |
Promoter Holding:
The promoters are Vineet Bhadauria and Anju Bhadauria.
- Pre-IPO: 100%
- Post-IPO: NA
Book Running Lead Manager: Expert Global Consultants Pvt. Ltd.
Registrar: Purva Sharegistry (India) Pvt. Ltd.
Manas Polymers Ltd.: Financials
Financial Highlights (₹ Crore):
| Period Ended | 30 Jun 2024 | 31 Mar 2024 |
| Assets | 22.14 | 21.08 |
| Total Income | 8.69 | 5.03 |
| Profit After Tax | 1.18 | 0.79 |
| Net Worth | 7.04 | 5.92 |
| Reserves & Surplus | 2.18 | 1 |
| Total Borrowing | 9.94 | 11.44 |
Key Performance Indicators (FY2025):
| KPI | Value |
| Market Capitalization | ₹62.99 Cr |
| ROCE | 22.82% |
| Debt/Equity | 1.05 |
| RoNW | 53.10% |
| PAT Margin | 12.99% |
| EBITDA Margin | 18.27% |
| Price to Book Value | 6.72 |
EPS & P/E
| Metric | Pre-IPO |
| EPS (₹) | 8.81 |
| P/E (x) | 9.19 |
Manas Polymers IPO Objectives
The IPO proceeds are proposed to be utilised as follows:
| Object | Amount (₹ Millions) |
| Capital expenditure for Solar Power Plant | 202 |
| Capital expenditure for Fixed Assets | 25.1 |
| General corporate purposes | Balance |
Industry Outlook
The PET packaging and renewable power sectors are witnessing robust growth, driven by:
- Rising demand for food-grade PET containers in FMCG and beverage sectors
- Increasing adoption of renewable energy solutions
- Strong focus on sustainability and environmental compliance
- Opportunities in industrial and agricultural sectors
Manas Polymers’ combination of manufacturing capabilities and renewable energy business positions it well to capitalize on these trends.
Manas Polymers IPO: Peer Comparison
Investors can compare Manas Polymers and Energies Limited with peers like Mitsu Chem Plast Limited and Technopack Polymers Limited to benchmark financials, product offerings, and growth potential within the polymer and packaging sector.
Conclusion
Manas Polymers and Energies Ltd. presents a unique IPO opportunity in the PET packaging and renewable energy sectors. With a strong focus on quality, sustainability, and client-driven operations, the company has demonstrated consistent growth. Investors should, however, consider risks such as market demand fluctuations, reliance on client orders, and operational scalability when evaluating this investment.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO to stay updated on the latest market offerings.
