Manas Polymers & Energies Ltd. IPO
Manas Polymers, incorporated on January 19, 2024, is a leading manufacturer and supplier of premium food-grade PET preforms, PET bottles, jars, and closure caps, catering primarily to the PET (plastics) industry. The company also operates in the renewable energy sector as an independent power producer (IPP), generating and distributing solar power. The business was originally founded by Mrs. Anju Bhaduria in 2015 and 2017 under proprietorship concerns—“M/s Manas Power and Infrastructure” and “M/s Manas Polymers”—which were later acquired by the company to expand operations.
Business Verticals
1. Renewable Power Generation (IPP)
Manas Polymers operates utility-scale solar power projects in Madhya Pradesh, selling electricity to private corporations, government-backed entities, and the state power grid. The current operational solar project has a capacity of ~1 MW, with plans to expand by setting up a ~5 MW solar project at Sakedi, Shajapur. The company manages the complete lifecycle of these projects, including installation, commissioning, and ongoing operations and maintenance.
2. PET Manufacturing and Trading
The company manufactures and supplies premium PET preforms, bottles, jars, and closure caps to the plastics industry. Its production facility is located in Gwalior, Madhya Pradesh, covering 1,533.45 sq. ft., ensuring adherence to high-quality standards for domestic and industrial clients.
Certifications and Compliance
i) ZED Bronze Certificate: Awarded for sustainable and responsible manufacturing practices (June 30, 2023).
ii) WHO-GMP Certificate: Ensures adherence to global Good Manufacturing Practices standards (February 9, 2024).
Business Strengths
i) Scalable Business Model: Optimized utilization of in-house processing facilities ensures economies of scale.
ii) Experienced Management Team: Led by Mrs. Anju Bhaduria with extensive industry knowledge in PET manufacturing and renewable energy.
iii) Strong Supplier Relationships: Ensures uninterrupted raw material supply for manufacturing and power generation.
iv) Consistency in Quality: Adherence to international standards ensures superior product quality.
v) Smooth Operations: Integrated management of manufacturing and power projects ensures operational efficiency.
Objects of the Manas Polymers & Energies Ltd. IPO:
Manas Polymers & Energies Ltd. IPO Details:
Open Date: | Sep 26 2025 |
Close Date: | Sep 30 2025 |
Total Shares: | 29,04,000 |
Face Value: | ₹ 10 Per Equity Share |
Issue Type: | Book Building |
Issue Size: | 23.52 Cr. |
Lot Size: | 1600 Shares |
Issue Price: | ₹ 76-81 Per Equity Share |
Listing At: | NSE Emerge |
Listing Date: | Oct 06 2025 |
Promoters And Management:
Financials of Manas Polymers & Energies Ltd. IPO:
Particulars (Cr) | FY2024-2025 | FY 2023-2024 | FY 2022-2023 |
Revenue from Operations | 31.54 | 19.76 | 20.35 |
EBITDA | 5.76 | 3.57 | 2.5 |
EBITDA Margins | 18.27% | 18.09% | 12.31% |
PAT | 4.29 | 1.7 | 0.79 |
PAT Margins | 12.99% | 9.92% | 5.31% |
ROCE | 22.82% | 14.28% | 11.61% |
Debt to Equity Ratio(In Times) | 22.82% | 2 | 2.69 |
Operating Cash Flows | 7.03 | -0.26 | 1.27 |
Comparison With Peers:
Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
Manas Polymers and Energies Limited | 31.54 | 18.27% | 12.99% | 22.82% | 22.82% | 62.98 | 14.68 |
Mitsu Chem Plast Limited | 332 | 7% | 2.11% | 10.40% | 0.77 | 145 | 19.4 |
Technopack Polymers Limited | 17.45 | 24% | 9.86% | 11.16% | 0.15 | 21.6 | 12.6 |
Lead Manager of Manas Polymers & Energies Ltd. IPO:
Registrar of Manas Polymers & Energies Ltd. IPO:
Discussion on Manas Polymers & Energies Ltd. IPO:
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