Manipal Payment and Identity Solutions IPO: Rs 822 Cr Details
By ThePip Desk
Manipal Payment and Identity Solutions IPO opens Sept 9, 2026, aiming to raise Rs 822 crore. Check price band, dates, lot size, and key details.
Public Issue Details
Manipal Payment and Identity Solutions has announced its initial public offering (IPO), which will open for subscription on September 09, 2026, and close on September 11, 2026. The company intends to raise up to Rs 822 crore through the issuance of 2,42,44,673 shares.
Key details regarding the offering include:
- Price band: Rs 322–339 per equity share.
- Face value: Rs 2 per share.
- Pricing multiple: 161.00 times the face value at the lower bound and 169.50 times at the higher bound.
- Listing venues: BSE and NSE.
Allocation and Management
The offering follows a 100% book-building process. Allocation quotas for the issue are structured as follows:
- Qualified Institutional Buyers (QIBs): Maximum 75% of the issue, including a 5% allocation for mutual funds.
- Non-Institutional Bidders: Minimum 15% of the issue.
- Retail Investors: Remaining 10% of the issue.
The company has appointed Motilal Oswal Investment Advisors, Axis Capital, ICICI Securities, IIFL Capital Services, and Nuvama Wealth Management as the book running lead managers. Dattatri Manjunatha Hardur serves as the compliance officer for this offering.
Company Operations
Incorporated on February 19, 2008, the company operates as part of the Manipal Group, which traces its history back to 1948. The firm provides various technology and security services to banks, fintechs, non-banking finance companies, and government entities.
Its primary business segments encompass:
- Payment solutions: Includes payment cards, cheque solutions, QR codes, wearables, and digital automation.
- Identification solutions: Includes national identity cards, driving licenses, and transit management.
- Secure solutions: Includes personalization of insurance policies, secure logistics, and security-enhanced packaging.
- Smart tagging and IOT: Includes excise labels with holograms, encrypted QR codes, and RFID-based track and trace solutions.
The upcoming listing will provide the market with a clearer view of the firm’s valuation as it transitions to a publicly traded entity on the national exchanges.