Manika Plastech Limited has submitted its Monitoring Agency Report to the BSE and NSE for the quarter ended September 30, 2026. This report, issued by Brickwork Ratings India Private Limited, details the utilization of proceeds from the company’s Initial Public Offer (IPO). The disclosure is made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Monitoring Agency Report Filed
Manika Plastech Limited has officially disclosed its Monitoring Agency Report for the second quarter of the financial year 2026-27, ending on September 30, 2026. This report, prepared by Brickwork Ratings India Private Limited, provides an oversight on the utilization of funds raised through the company’s Initial Public Offer (IPO).
Compliance with SEBI Regulations
The submission is in adherence to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company’s website also hosts this disclosure for public access.
Key Details from the Report
The report, dated November 06, 2026, outlines the progress of fund utilization concerning the objects of the IPO. The total issue size was Rs. 125.50 Crore, comprising a fresh issue of Rs. 92.50 Crore and an offer for sale of Rs. 33.00 Crore.
Utilization of Funds as of September 30, 2026
The report details the progress of specific objects:
- Funding capital expenditure towards purchase of plant and machinery: Proposed at Rs. 54.93 Crore, with Rs. 8.06 Crore utilized during the quarter, leaving an unutilized amount of Rs. 46.87 Crore.
- Repayment and/or pre-payment of certain borrowings: Proposed at Rs. 15.00 Crore, with Rs. 3.61 Crore utilized during the quarter, leaving an unutilized amount of Rs. 11.39 Crore.
- General Corporate Purposes: Proposed at Rs. 11.71 Crore, with Rs. 7.32 Crore utilized during the quarter, leaving an unutilized amount of Rs. 4.39 Crore.
- Offer Expenses: Proposed at Rs. 10.86 Crore, with Rs. 8.51 Crore utilized during the quarter, leaving an unutilized amount of Rs. 2.35 Crore.
The total utilized amount as of September 30, 2026, stands at Rs. 27.50 Crore, with a total unutilized amount of Rs. 65.00 Crore.
Deployment of Unutilized Proceeds
A significant portion of the unutilized proceeds has been deployed in fixed deposits with ICICI Bank, totaling Rs. 57.31 Crore across multiple accounts with maturity dates primarily in November and December 2026. The company also maintains its own monitoring and public issue accounts.
Delay in Implementation
The report indicates that the implementation of objects is generally ongoing, with proposed completion by the Financial Year 2026-27. No significant delays or deviations were highlighted in the report regarding the implementation of these objects.
Source: BSE
