Manilam Industries Debuts on NSE SME with Shares Opening Below Issue Price

Manilam Industries India Limited, founded in 2015 and specializing in decorative laminates and plywood, debuted on the NSE SME platform on February 27. Its Rs 40 crore IPO was subscribed 6.25 times, with strong demand from non-institutional investors. The shares opened at a 20% discount to the issue price of Rs 69, reflecting cautious market sentiment despite the company's reported FY25 income of Rs 142.16 crore and profit after tax of Rs 7.38 crore. Funds raised will support equipment purchase, solar panel installation, loan repayment, and working capital.