What does Alternicq Limited do?

Alternicq Limited is a Bengaluru-based public limited company incorporated in 1987, classified under the packaging and materials sector with a focus on rigid plastic packaging.

Is Alternicq Limited an active company?

The company's very low share price of ₹0.01 and limited public information suggest it may be dormant or have significantly scaled back operations. Investors should verify current status through MCA filings.

Who are the promoters of Alternicq Limited?

Promoter details are not publicly confirmed. Investors should check MCA filings (CIN: U67120KA1987PLC032636) for director and shareholding information.

What is the lot size for Alternicq Limited unlisted shares?

The lot size is 1 share. At ₹0.01 per share, this is a very low-value holding requiring significant volume to constitute a meaningful investment.

Is Alternicq Limited planning an IPO?

No IPO plans have been announced. Given the extremely low share price and limited public information, a near-term listing appears unlikely.

What is the significance of the CIN U67120KA1987PLC032636?

The CIN indicates the company is registered in Karnataka (KA), incorporated in 1987, and classified as a public limited company under the financial services or holding category (67120 NIC code relates to investment activities).

How do I buy Alternicq (Manjushree Technopack) unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Alternicq (Manjushree Technopack)?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Alternicq (Manjushree Technopack) shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Alternicq (Manjushree Technopack) Unlisted Share Price | Buy Alternicq (Manjushree Technopack) Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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Alternicq (Manjushree Technopack) Unlisted Share Price | Buy Alternicq (Manjushree Technopack) Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Alternicq (formerly Manjushree Technopack) is India's largest rigid plastic packaging company, acquired by PAG PE firm for ~Rs.8,400 Cr in 2024. With 275,000 MTPA capacity and blue-chip clients like Varun Beverages, Dabur, and Marico, it is an operationally strong business. However, it is now fully private with no public disclosures or near-term liquidity.

Pros

India's largest rigid plastic packaging company with 275,000 MTPA installed capacity — market leader in a critical B2B segment.
PAG (Asia PE firm) acquired ~97% stake for ~Rs.8,400 Cr in late 2024 — institutional validation at significant valuation.
Deep client relationships with Varun Beverages, Dabur, Marico — blue-chip FMCG customer base providing revenue visibility.
Formerly Manjushree Technopack Limited — legacy brand in rigid PET/plastic packaging with decades of operational excellence.

Cons

Fully private since PAG buyout — no public financial disclosures; revenue and profitability cannot be verified.
Single-use plastic packaging faces ESG/regulatory headwinds; India's plastic ban policies create long-term risk.
PAG's ~97% ownership means minority shareholders have no effective governance rights.
Withdrawal of IPO plans reduces near-term liquidity event for existing minority shareholders.

Business Segments

Rigid PET Packaging

Manufacturing of rigid PET bottles and containers for beverages, FMCG, and personal care industries. 275,000 MTPA capacity.

Preforms & Closures

PET preforms and bottle closures supplied to leading beverage and consumer goods companies.

Revenue Model

Alternicq Limited is classified in the rigid plastic packaging sub-sector, suggesting revenue from manufacturing or supplying rigid plastic containers, bottles, or packaging solutions to FMCG and industrial buyers. Given the very low share price and limited information, the company may currently have minimal revenue activity.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds9

Growth Plans

Potential restructuring or revival of operations under new management

India's FMCG sector growth driving sustained packaging demand

Possible value realisation through asset sales or acquisition by a larger player

Industry Tailwinds

Potential restructuring or revival of operations under new management

Recent Developments

PAG acquires ~97% stake for ~Rs.8,400 Cr

Asia-focused PE firm PAG completed buyout of Alternicq (formerly Manjushree Technopack) at ~Rs.8,400 Cr valuation; company went private, shelving earlier IPO plans.

2024

Rebranded from Manjushree Technopack to Alternicq

Name change to Alternicq signals strategic realignment under new PE ownership.

2024

Comparable Companies

CompanyTypeTickerMkt Cap

Mold-Tek Packaging LimitedListedMOLDTKPAC~1,800 Cr

Hitech Plast LimitedListedHITECHPLAS~300 Cr

Time Technoplast LimitedListedTIMETECHNO~3,000 Cr

Mold-Tek Packaging LimitedListed

MOLDTKPAC · ~1,800 Cr

Frequently Asked Questions

About Alternicq (Manjushree Technopack)

Alternicq Limited, formerly known as Manjushree Technopack Limited, is India's largest rigid plastic packaging company, headquartered in Bengaluru, Karnataka. Incorporated in 1987, Manjushree Technopack spent three decades building India's premier PET bottle and rigid container manufacturing franchise, serving marquee FMCG, food & beverage, and pharmaceutical clients. The company manufactures PET bottles, HDPE containers, closures, caps, and other rigid plastic packaging solutions. Its clients include household names such as Coca-Cola, PepsiCo, Dabur, Marico, and numerous consumer goods companies. Manjushree's manufacturing network spans multiple Indian states including Karnataka, Uttarakhand, Rajasthan, and Gujarat, with advanced blow-moulding and injection-moulding capabilities across its facilities. In a landmark transaction in late 2024, global private equity firm PAG (Pacific Alliance Group) acquired approximately 97% stake in the company for approximately Rs 8,400 crore — one of the largest PE buyouts in Indian packaging history. Following the acquisition, the company was rebranded to Alternicq Limited, signalling a new strategic phase under PAG's ownership. FY2025 revenues reached approximately Rs 2,580 crore. The Indian rigid plastic packaging industry is growing at approximately 8-10% annually driven by rising packaged goods consumption, e-commerce expansion, and premiumisation trends. Alternicq's dominant market position, deep client relationships, and advanced manufacturing infrastructure position it as a clear sector leader. PAG's backing brings international expertise, access to global capital, and potential cross-border expansion opportunities.

Key Milestones

Founded as Manjushree Technopack Limited in Bengaluru, Karnataka

Common questions about unlisted shares

How do I buy Alternicq (Manjushree Technopack) unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

Rating drivers & sensitivityFrom CRISIL's rating rationale — rates debt servicing, not share value12

Key Strengths

Established market position, as indicated by strong customer base and increasing revenue diversity The company is one of the leading players n the rigid plastics packaging business in India with installed capacity of over 275000 tonne per annum.

Strong market share is supported by established relationships with customers such as Reckitt Benckiser (India) Ltd, Dabur India Ltd (‘Crisil AAA/Stable/Crisil A1+’), Hindustan Coca Cola Beverages Private Ltd, PepsiCo India Private Ltd, and Mondelez India Foods Private Ltd.

Over the past few years, Alternicq has diversified its customer base and increased presence in various categories of the fast-moving consumer goods packaging industry, such as food and beverages, personal care, home care, liquor, paints and regulated pharma Manufacturing base is in Bengaluru.

Alternicq operates a state-of-the-art innovation centre at its Bidadi facility and has an active collaboration with the Indian Institute of Science, Bangalore.

The company has successfully developed an all-plastic pump solution, eliminating metal components from conventional plastic pumps, demonstrating its focus on product innovation and sustainability With the acquisition of Varahi Ltd (Varahi) in fiscal 2017 and facilities of National Plastics Industries Ltd (NAPLA) in fiscal 2020 in North India, overall market reach and ability to service diverse clients improved substantially.

Key Weaknesses

Large working capital requirement Operations are moderately working capital intensive due to seasonality in most end-user segments.

As the company primarily caters to beverage manufacturers, sales peak during summer, leading to a sizeable inventory (60-80 days during March-May).

The company also extends credit of 60-90 days to customers.

Working capital cycle may remain moderately stretched, with gross current assets of 120-140 days over the medium term.

Exposure to intense competition The packaging industry is highly fragmented, leading to intense competition that may continue to constrain scalability, pricing power and profitability.

Upward Factors

17% leading to healthy cash generation Improvement in debt protection metrics, with debt to Ebitda ratio of 1.3-1.5 times on a sustained basis

Downward Factors

13%) and cash accrual on sustained basis Large, debt-funded capex or acquisition weakening debt protection metrics; for instance, debt to Ebitda ratio of over 3 times High dividend payout leading to deterioration of liquidity

Alternicq Limited

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