Manas Polymers IPO Sees Strong Institutional Demand
Manas Polymers and Energies Limited, a manufacturer of premium food-grade PET products and an independent power producer, has seen strong institutional interest in its Initial Public Offering (IPO). The company priced its IPO in the ₹76-₹81 per share range.
On the third day of the IPO, institutional buyers excluding anchor investors dominated the demand. Qualified Institutional Buyers (QIBs) showed a remarkable 6.66 times the allocated shares, leading the participation. Non-institutional investors also showed interest, with a demand of 1.78 times the allocated shares. Individual investors contributed a modest 0.19 times on Day Three.
By 5:10 PM on the final day, the ₹23.52 crore issue had accumulated 1.24 times subscriptions. The forthcoming listing will depend on broader market sentiment and post-listing demand for SME names.
Manas Polymers and Energies Limited, with its diverse product range and renewable energy operations, has garnered significant institutional interest in its IPO. The company employs 27 people as of June 2024 and is set to list based on the successful IPO subscription.
