IPO Details
Bidding Dates
To be announced
Minimum Investment
To be announced
Price Range
To be announced
Maximum Investment
To be announced
Retail Discount
To be announced
Issue Size
₹30,000.00 million
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |About Manjushree Technopack IPO
Manjushree Technopack has filed draft papers to raise ₹3,000 crore through an IPO. The offering includes a fresh issue of ₹750 crore in equity shares and an offer-for-sale (OFS) of ₹2,250 crore by the promoter. The company plans to allocate ₹500 crore from the fresh issue proceeds to repay its outstanding debt, which stood at ₹1,156.3 crore as of June 2024, including ₹587.2 crore in compulsory convertible debentures (CCDs).
The remaining funds from the IPO will be used for acquisitions, other strategic growth initiatives, and general corporate purposes. The promoter will receive proceeds from the OFS.
Additionally, Manjushree may raise ₹150 crore via private placement or preferential offers before submitting its Red Herring Prospectus (RHP). If the pre-IPO placement occurs, this amount would be deducted from the fresh issue. Notably, Advent International, the company’s private equity investor, has been exploring strategic options, including the IPO or a potential stake sale.
Industry Outlook:
- India’s domestic consumption has grown at a CAGR of 10.8% from Fiscal 2016 to 2023, compared to China’s 6.9%. This growth in Private Final Consumption Expenditure (PFCE) is expected to positively impact Manjushree Technopack by increasing demand for packaged goods.
- Manufacturing contributes 14% to India’s GDP and is expected to grow to 21%-22% in the next 5 years. Manjushree Technopack, as a leading packaging company, stands to benefit from the manufacturing boom, especially in sectors like food, beverages, and pharmaceuticals.
Manjushree Technopack IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Repayment or prepayment, in whole or in part, of the company's outstanding borrowings.
- The remaining funds will be allocated for general corporate purposes.
About Manjushree Technopack Limited
Manjushree Technopack Limited is the largest rigid plastic packaging (RPP) player in India by installed capacity as of March 31, 2024, in the consumer rigid plastics industry, according to the Technopak Report. The company offers comprehensive, end-to-end packaging solutions, from design to delivery, across a range of products, including containers, preforms, caps, closures, pumps, dispensers, and in-house recycling capabilities.
It caters to a broad range of industries, such as food, beverages, personal care, pharmaceuticals, home care, and agrochemicals. In Fiscal 2023, the company held a 7.4% market share in India’s organised consumer RPP industry, which grew to an estimated 8.8% in Fiscal 2024. The company’s revenue from operations grew at an impressive compound annual growth rate (CAGR) of 20.13% from Fiscal 2022 to 2024.
Manjushree operates 23 manufacturing facilities and serves 964 customers, including major brands like Dabur India Limited, Marico Limited, and Varun Beverages Limited. Additionally, the company is a leader in sustainability, with 45.21% of its power sourced from renewable energy in Fiscal 2024, and a strong commitment to recycling and eco-friendly practices.
Peer Details
Mold-Tek Packaging Limited is the only listed peer considered by Manjushree Technopack Limited.
How to Check the Allotment Status of the Manjushree Technopack IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
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Contact Details of Manjushree Technopack IPO
- Registered office: MBH Tech Park, 2nd floor, Survey No. 46(P) and 47(P), Begur Hobli, Electronic City Phase-II, Bangalore 560100, Karnataka, India
- Phone: +91 080-43436200
- E-mail: ipo@manjushreeindia.com
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue from Operation (in ₹ million) | 21,170.03 | 20,963.39 | 14,670.48 |
| Profit After Tax (PAT) (in ₹ million) | 1,407.90 | 592.31 | 708.15 |
| Current Ratio (x) | 1.06 | 1.11 | 1.12 |
| Net Worth (in ₹ million) | 10,081.44 | 9,510.02 | 9,007.30 |
| Total Borrowings (in ₹ million) | 2,466.11 | 2,433.76 | 2,912.51 |
| Return on Equity (%) | 14.37 | 6.40 | 9.76 |
| Return on Capital Employed (RoCE) (%) | 16.98 | 11.68 | 11.74 |
| EBITDA (in ₹ million) | 3,828.67 | 3,011.35 | 2,413.17 |
Know before investing
Strengths
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Leads India’s consumer rigid plastics packaging industry in revenue and capacity.
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Offers a diversified product range catering to various consumer needs.
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Indian RPP market is growing, with a shift towards consolidation and organised players.
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Strategic manufacturing locations enhance operational efficiency and customer service.
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Focuses on sustainability with renewable energy and recycled plastics, including a partnership for recycled PET.
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Proven track record of successful acquisitions, boosting market share and capabilities.
Risks
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Heavy reliance on containers and preform sales could hurt revenue if demand slows.
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Dependency on key customers risks revenue loss if these clients reduce orders or leave.
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Lack of long-term agreements with suppliers may cause disruptions in material supplies.
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Any unplanned shutdown of manufacturing plants could significantly impact operations.
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The concentration of production in southern India makes operations vulnerable to regional disruptions.
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Short-term customer contracts may lead to unpredictable order volumes and revenue instability.
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Manjushree Technopack IPO FAQs
Manjushree Technopack IPO is a book built issue IPO. The exact dates and price range are yet to be announced.
The exact dates and price range are yet to be announced.
The IPO subscription window is not announced yet.
Retail investors can apply for a minimum of one lot. However, the lot size has not been announced yet.
The exact date is not announced yet.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
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- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
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- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Manjushree Technopack’s financial statements, download the IPO’s RHP document.
