Manika Plastech shares list flat at IPO price; should you buy, sell or hold?

According to fresh market updates, Manika Plastech shares made a flat market debut at its initial public offering (IPO) price on Monday, despite decent demand in the primary market between September 11 and 16. The firm's IPO was subscribed 28.14 times.

Manika Plastech shares were listed at Rs 43 per share on the NSE. The Rs 125.5-crore offering had a price range of Rs 40-43 per share.

On the BSE, the shares of the firm were listed at a similar Rs 43 per share. The firm's market capitalisation post stock-exchange debut of its shares stood at Rs 501-crore.

Manika Plastech market debut was almost at par with expectations in the grey market, which had anticipated a stock-exchange debut gain of 1-2 percent.

The firm is a design-led, precision engineered, rigid polymer packaging manufacturing firm and caters to diversified critical industries such as energy storage, dairy and edible food products, paints and chemicals.