Manas Polymers & Energies Ltd IPOMPEL

The IPO opens on 26 Sept 2025 & closes on 30 Sept 2025.

Manas Polymers and Energies Limited was incorporated as a public limited company vide Certificate of Incorporation dated January 19, 2024, issued by Registrar of Companies, Central Registration Centre. The Company has rapidly established itself as a key player in the plastics (PET) and solar energy industries. With a manufacturing facility utilizing fully automated injection molding technology, it operate at a capacity of 4,000 MT per year. The Company is primarily engaged in the business of manufacturing and supply of premium food-grade PET preforms and PET bottles, jars and closure caps. It is also engaged in the renewable power generation and distribution as an independent power producer (IPP). Initially, the Company business was started by Mrs. Anju Bhaduria in year 2015 as a sole proprietorship concern under the name and style of 'M/s. Manas Power and Infrastructure' wherein the renewable power generation and distribution business was carried out by M/s. Manas Power and Infrastructure and, also in 2017 as a sole proprietorship concern by under the name and style of 'M/s Manas Polymers' wherein the manufacture and supply of premium food-grade PET preforms, PET bottles, jars and closure caps was carried out by M/s. Manas Polymers to cater to the PET (plastics) industry. Mrs. Anju Bhaduria who commenced the aforesaid business possessed the requisite experience, expertise and in-depth industry knowledge to expand geographical and client presence in the existing industry, while exploring new growth avenues. The Company took over the business of proprietorship concerns of one of the Promoters Anju Bhadauria, namely M/s. Manas Polymers and M/s. Manas Power and Infrastructure as per the business transfer agreement dated January 25, 2024 along with the assets and liabilities of the proprietorship concerns as going concern in terms of the business transfer agreement. The Company is planning an Initial Offer of 29,04,000 Equity Shares through Fresh Issue.

Manas Polymers & Energies Ltd IPO will close on 30 Sept 2025.

<ul><li>Scalable business model.</li><li>Experienced management Team.</li><li>Existing relationship with suppliers.</li><li>Consistency in quality.</li><li>Smooth flow of operations.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Vineet Bhadauria</td> <td>4868000</td> <td>99.92</td> <td>4868000</td> <td>62.6</td> </tr> <tr> <td>2</td> <td>Anuj Bhadauria</td> <td>---</td> <td>---</td> <td>---</td> <td>---</td> </tr> <tr> <td>3</td> <td>Dhruv Bhadauria</td> <td>100</td> <td>---</td> <td>100</td> <td>---</td> </tr> <tr> <td>4</td> <td>Janvi Bhadauria</td> <td>700</td> <td>0.01</td> <td>700</td> <td>---</td> </tr> <tr> <td>5</td> <td>Kavyaa Bhadauria</td> <td>800</td> <td>0.02</td> <td>800</td> <td>---</td> </tr> </tbody> </table>

<ul><li>A significant portion of our revenue is derived from the sale of PET preforms and remaining from PET bottles, jars and HDPE containers. Any decline in the sales of our finished key product and could have an adverse effect on our business, results of operations and financial condition.</li><li>We are dependent on our power purchase and wheeling agreement for solar energy-based plants under REC mechanism ("PPA") dated June 05, 2015 to sell power and generate our revenue from operations. Termination or change in the terms of the PPA could adversely affect our business, results of operations and financial condition.</li><li>Our business is subject to seasonal volatility due to packaged mineral water and soft drinks sales in summer and winter seasons.</li><li>Our business is dependent and will continue to depend on our manufacturing facility, and we are subject to certain risks in our manufacturing process. Any slowdown or shutdown in our manufacturing operations or strikes, work stoppages or increased wage demands by our employees that could interfere with our operations could have an adverse effect on our business, financial condition and results of operations.</li><li>Trade Receivables and Inventories form a substantial part of our current assets and net worth. Failure to manage our trade receivables could have an adverse effect on our net sales, profitability, cash flow and liquidity.</li><li>There have been instances of discrepancies/errors and statutory non-compliances in the past under Companies Act. We may be subject to legal proceedings or regulatory actions by statutory authorities and our business, financial condition and reputation may be adversely affected.</li><li>The operations and maintenance activities of our Solar Power Plant are outsourced to a third party service provider.</li><li>We are primarily dependent upon few key suppliers for procurement of raw materials. Any disruption in the supply of these raw materials or fluctuations in their prices could have a material adverse effect on our business operations and financial conditions.</li><li>There are outstanding legal proceedings against our Company, Promoters, and certain of our Directors. Any adverse decision in such proceedings may render us/them liable to liabilities/penalties and may adversely affect our business, results of operations and financial condition.</li><li>Our premises are not owned by us and we have only leasehold rights over such premises. In the event we lose such rights or are required to negotiate it, our cash flows, business, financial conditions and results of operations could be adversely affected.</li><li>We are dependent upon few customers, for generating significant portion of our revenues, with whom we have not entered into any agreements. The loss of any one or more of our major customer would have a material adverse effect on our business, cash flows, results of operations and financial condition.</li><li>Revenue generation from the existing or old customers.</li><li>We require working capital for our smooth day-to-day operations of business and any discontinuance or our inability to acquire adequate working capital timely and on favourable terms may have an adverse effect on our operations, profitability and growth prospects.</li><li>Our success mainly depends on sectors specific to PET bottle industry in which we cater to and therefore as a result we may be affected by any disruptions in the industry. Any failure on our part to do so, may have an impact on the reputation of our products, which could have an adverse effect on our revenue, reputation, financial conditions, results of operations and cash flows.</li><li>We are required to obtain, renew or maintain certain statutory and regulatory permits and approvals required to operate our business and if we fail to do so in a timely manner or at all and our business, financial conditions, results of operations, and cash flows may be adversely affected.</li><li>Our Company's logo "Manas Polymers and Energies Limited" is not registered with Registrar of Trademark and the trademark for our brand "Tuffpet" has been opposed. Any infringement of our brand name or failure to get it registered may adversely affect our business.</li><li>Our business operations rely on consistent solar weather conditions and unfavourable solar weather conditions could have a material adverse effect on our business, financial condition and results of operations.</li><li>Under-utilization of our manufacturing capacities and an inability to effectively utilize our expanded manufacturing capacities could have an adverse effect on our business, future prospects and future financial performance. Our inability to accurately forecast demand for our products may have an adverse effect on our business, results of operations and financial condition.</li><li>Our Company has entered into related party transactions in the past and may continue to enter into related party transactions in the future, which may potentially involve conflicts of interest with the equity shareholders.</li><li>We have had negative cash flows from operating activities in the past and may, in the future, experience similar negative cash flows</li><li>Our Promoters and Promoter Group have extended personal guarantees with respect to loan facilities availed by our Company and have provided their property as collateral security for loan facilities availed by our Company. Revocation of any or all of these personal guarantees or withdrawal of such property may adversely affect our business operations and financial condition.</li><li>Our business from solar power generation is dependent on limited customers which constitute 100% of our revenue from operations generated from supply of power. The loss of any of these off takers could have an adverse effect on our business, financial condition, results of operations and cash flows.</li><li>We bid for sale of power on IEX/PXIL/HPX platform through a competitive bidding process, for which we are dependent on a third party "Trader Member" and we may not be able to qualify for, compete or win such projects, which could adversely affect our business prospects, cash flows and results of operations.</li><li>We intend to utilise a portion of the Net Proceeds for funding our capital expenditure requirements i.e setting up of Solar Power Plant Project which may not be successful and may be less profitable or may be loss-making.</li><li>Our Company acquired the running business of Late Anju Bhadauria, Proprietorship through Business Transfer Agreement dated January 25, 2024 which contains certain terms and conditions. Inability to effectively service / comply with such terms and conditions, comply with or obtain waivers of some covenants, as the case may be, may adversely affect our business, results of operations and financial conditions.</li><li>Non-compliance with and changes in, safety, health, environmental and labour laws and other applicable regulations, may adversely affect our business, financial condition and results of operations.</li><li>A significant portion of our sales are concentrated in a single region i.e., Madhya Pradesh and the inability to operate and grow our business in this particular region may have an adverse effect on our business, financial condition, results of operations, cash flows and future business prospects.</li><li>We face competition, from established competitors, and we may fail to compete successfully against existing or new competitors, which may reduce the demand and market share for our products which may lead to reduced prices, operating margins, profits and further result in decline in revenue.</li><li>We are exposed to counterparty credit risk and any delay in receiving payments or non-receipt of payments may adversely impact our results of operations.</li><li>There are certain discrepancies and non-compliances noticed in some of our corporate records relating to filing or returns and deposit of statutory dues with the statutory authorities.</li><li>Our success largely depends upon the knowledge and experience of our Promoters, Directors, Key Managerial Personnel and Senior Management as well as our ability to attract and retain personnel with technical expertise. Our inability to retain our Promoters, Directors, Key Managerial Personnel and Senior Management or our ability to attract and retain other personnel with technical expertise could adversely affect our business, results of operations and financial condition.</li><li>High Dependence on a Limited Number of Non-Related External Counterparties for Sales and Purchases.</li><li>We depend on skilled personnel and if we are unable to recruit and retain skilled personnel, our ability to operate or grow our business could be affected.</li><li>We have not obtained any credit rating, which may limit our ability to access debt financing on favorable terms and could have a material adverse effect on our business, results of operations, financial condition, cash flows, and future prospects.</li><li>The industry in which we operate is labour intensive and our manufacturing operations may be materially adversely affected by strikes, work stoppages or increased wage demands by our employees or those of our suppliers.</li><li>Our Company's failure to maintain the quality standards of the products or keep pace with the technological developments could adversely impact our business, results of operations and financial condition.</li><li>Our ability to pay dividends will depend upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and other factors.</li><li>Changes in technology may render our current technologies obsolete or require us to make substantial capital investments.</li><li>Dependence upon third party transportation services for supply and transportation of our products are subject to various uncertainties and risks, and delays in delivery may result in rejection of products by customer.</li><li>The activities carried out at our manufacturing facility can cause injury to people or property in certain circumstances.</li><li>Our Company has availed unsecured loans from our directors and directors' relatives, which may be recalled on demand.</li><li>We are subject to the restrictive covenants of banks in respect of the Loans/ Credit Limits and other banking facilities availed from them.</li><li>Our inability to effectively manage our growth or to successfully implement our business plan and growth strategies could have an adverse effect on our business, results of operations and financial condition. The success of our business will depend greatly on our ability to effectively implement our business and growth strategies.</li><li>Pricing pressure from customers may adversely affect our gross margin, profitability and ability to increase our prices.</li><li>There's a growing public and consumer demand for sustainable practices. Manufacturers who don't adapt to using recycled materials or producing less-polluting polymers risk losing market share.</li><li>There is a limited pool of potential purchasers of third party sale of power which could have an adverse effect on our business, results of operations and cash flows.</li><li>After the completion of the Issue, our Promoters will continue to collectively hold substantial shareholding in our Company.</li><li>The average cost of acquisition of Equity Shares by our Promoters could be lower than the Issue price.</li><li>Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.</li><li>Certain key performance indicators for certain listed industry peers included in this Red Herring Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.</li><li>Any future acquisitions, joint ventures, partnerships, strategic alliances, tie-ups or investments could fail to achieve expected synergies and may disrupt our business and harm the results of operations and our financial condition.</li><li>We have not identified any alternate source of funding and hence any failure or delay on our part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.</li><li>The Objects of the Issue for which funds are being raised, are based on our management estimates and have not been appraised by any bank or financial institution.</li><li>The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of our Company.</li><li>Our insurance coverage may not be adequate to protect us against certain operating hazards and this may have a material adverse effect on our business.</li><li>Our employees may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.</li><li>Information relating to the installed manufacturing capacity of our manufacturing facility included in this Red Herring Prospectus are based on various assumptions and estimates and future production and capacity may vary.</li><li>Disclosure of Promoter and Management Credentials is Limited to Available Documentary Evidence.</li><li>None of our Company's board of directors have any experience of listed Companies.</li><li>In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects / schedule of implementation of this Issue which would in turn affect our revenues and results of operations.</li><li>If we are unable to establish and maintain an effective internal controls and compliance system, our business and reputation could be adversely affected.</li><li>Our Directors, Key Managerial Personnel and Senior Management may have interests other than reimbursement of expenses incurred and normal remuneration or benefits in our Company.</li><li>Our Company does not own the Land where the Solar PV Plant shall be installed. Failure to make the balance payment to purchase the said land in the stipulated time would lead to termination of our existing Leave and License Agreement cum Memorandum of Understanding as well thus affecting our business, revenue from operations, cash flows, etc.</li><li>Certain data mentioned in this Red Herring Prospectus has not been independently verified.</li><li>Subsequent to listing of the Equity Shares, we may be subject to pre-emptive surveillance measures like Additional Surveillance Measures and Graded Surveillance Measures by the Stock Exchanges in order to enhance market integrity and safeguard the interest of investors.</li><li>Investors other than Individual (including non-institutional investors and Corporate Bodies) are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Amount) at any stage after submitting an Application.</li><li>We have in this Red Herring Prospectus included certain Non-GAAP Measures that may vary from any standard methodology that is applicable across the industries in which we operate and may not be comparable with financial information of similar nomenclature computed and presented by other companies.</li><li>Restriction on our Merchant Banker/ Book Running Lead Manager from undertaking new assignments may create a perception risk and could impact investor confidence.</li></ul>

The Issue type of Manas Polymers & Energies Ltd is Book Building - SME.

The minimum application for shares of Manas Polymers & Energies Ltd is 3200.

The total shares issue of Manas Polymers & Energies Ltd is 2904000.

Initial public offer of 29,04,000 equity shares of face value of Rs.10/- each ("equity shares") of Manas polymers and energies limited ("company" ) for cast at a price of Rs.81 per equity share (Including Share Premium of Rs.71 per equity share) ("Issue Price"") aggregating up to Rs.23.52 crores out of which 1,47,200 equity shares of face value of Rs.10/- each, for cash at a price of Rs.81 per equity share Including a share premium of Rs.71 per equity share aggregating to Rs.1.19 crores was reserved for subscription by market maker to the issue (the "market maker reservation portion"). The issue less market maker reservation portion i.e. issue of 27,56,800 equity shares of face value of Rs.10/- each, at a price of Rs.81 per equity share aggregating to Rs.22.33 crores is herein after referred to as the "Net Issue". the issue and the net issue will constitute 37.35% and 35.45% respectively of the post issue paid up equity share capital of the company. Price Band: Rs. 76/- to Rs. 81/- for equity share of face value of Rs. 10 each. The floor price is 7.60 times times the face value and cap price is 8.10 times of the face value of the equity shares. Bids can made for a minimum of 1,600 equity shares and in multiples of 1,600 equity shares thereafter.