Manipal Payment And Identity Solutions Limited IPO: Issue To Open On 9 September
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Manipal Payment and Identity Solutions has filed its RHP for an IPO of up to ₹320 crore through a fresh issue, alongside an offer for sale of up to 1.43 crore shares by promoter Manipal Technologies.
Karnataka-based Manipal Payment and Identity Solutions has filed its red herring prospectus (RHP) with the Registrar of Companies, setting the stage for its initial public offering. The initial public offering (IPO) will open for subscription on 9 September and close on 11 September.
The anchor book will open on 8 September for institutional investors. Share allotment is expected to be finalised by 15 September, with the company's shares scheduled to begin trading on the stock exchanges on 17 September.
Manipal Payment and Identity Solutions Limited’s IPO price band has been announced at ₹322-339 per share, valuing the company at ₹7,858 crore at the upper end of the price band.
IPO Size And Allocation
The updated draft red herring prospectus had envisaged a ₹400-crore fresh issue and an OFS of 1.75 crore shares. The size of the fresh issue and OFS has been reduced from the earlier proposal, as follows:
Fresh issue | Up to ₹320 crore |
Offer for sale | Up to 1.43 crore shares |
Of the net offer, 75% is reserved for qualified institutional buyers, 15% for non-institutional investors and 10% for retail investors.
Where Will Manipal Payment Use IPO Proceeds?
The company plans to deploy ₹238.4 crore from the net fresh issue proceeds towards purchasing and installing new and second-hand equipment.
The equipment will be deployed across facilities in:
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Manipal
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Chennai
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Navi Mumbai
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Chhattisgarh RTO
The remaining proceeds will be used for general corporate purposes.
Market Position, Financial Performance And Ownership
The company works across payment cards, identification, secure and smart tagging, and IoT solutions. Its customers include banks, fintech companies, NBFCs and government entities.
In FY26, it accounted for an estimated 36.4% of India’s credit card issuance market and 30.9% of the debit card issuance market. More than 300 customers globally use its services.
Revenue increased 5.6% year-on-year to ₹1,326.8 crore in FY26. Profit, however, fell 10.2% to ₹253.5 crore. The decline was partly due to the high base from exceptional gains recorded in the previous year.
Promoter Manipal Technologies, backed by the Pai family, owns 61.55% of the company, with the balance held by public shareholders.
Also Read - Accel India-Backed Rentomojo Lines Up ₹1,255 Crore IPO; Subscription Begins 9 September
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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