BY THE NUMBERS.
TICKET CLASSES.
HOW THE ISSUE IS BUILT.
The two legs send the money to different places: a fresh issue raises new capital for the company, while an offer for sale is existing shares being sold by existing shareholders, whose proceeds go to those sellers and not to the company.
WHO GETS WHICH SEATS.
ON THE DASHBOARD.
THE RUNNING RECORD.
WHO ELSE RUNS THIS LINE.
The company has only one industry peer as on the date of this RHP. Closing Price as on August 31, 2026 is sourced from www.nseindia.com . P/E ratio has been computed based on the closing market price of equity shares on NSE on August 31, 2026 divided by the Diluted EPS for the year ended March 31, 2026. Return on Net Worth (%) = Profit / (Loss) for the year before the effect of share of non-controlling interest/ Net worth at the end of the year. Net worth = Aggregate value of Equity Share Capital and Other Equity excluding non-controlling interest as at the end of the year. Net asset value per share (in ₹) is calculated as net worth as of the end of the year divided by the number of equity shares outstanding at the end of the year. Details for the above table have been derived from financial results for the quarter and year ended March 31, 2026, dated May 18, 2026 available on the website of the stock exchanges or the listed industry peer.
WHAT THE MONEY IS FOR.
Manipal Payment and Identity Solutions Ltd (MPISL) is the India's largest banking and smart card manufacturer. It offers comprehensive card services including creation, designing, manufacturing and delivering it to customers, including public and private sector banks, fintech companies, and government departments. The company has expanded its operations globally across the United Kingdom, Europe, Asia-Pacific, and MEA regions. The company has 10 state-of-the-art factory setups with 19 production units across 11 cities.
ON THE ROSTER.
COMMON QUESTIONS.
What is the Manipal Payment and Identity Solutions IPO price band?+
The indicative price band is ₹339 per share. The binding terms are the ones in the Red Herring Prospectus (RHP).
What is the lot size of the Manipal Payment and Identity Solutions IPO?+
One lot is 44 shares. At the upper band of ₹339, one lot works out to ₹14,916.
How many lots can a retail investor apply for in the Manipal Payment and Identity Solutions IPO?+
A retail application runs from 1 lot (44 shares, ₹14,916) up to 13 lots (572 shares, ₹1,93,908) — the most that fits under SEBI's ₹2 lakh retail ceiling.
What is the minimum HNI application in the Manipal Payment and Identity Solutions IPO?+
A small-HNI (sHNI) application starts at 14 lots — 616 shares, ₹2,08,824. A big-HNI (bHNI) application starts at 68 lots — 2,992 shares, ₹10,14,288, above the ₹10 lakh boundary.
When does the Manipal Payment and Identity Solutions IPO open and close?+
The issue opens on 09 Sept 2026 and closes on 11 Sept 2026. Dates can move — the registrar and the exchange notices are the record.
When is the Manipal Payment and Identity Solutions IPO allotment?+
Allotment is scheduled for 15 Sept 2026. The basis of allotment is published by the registrar to the issue. BuyUnlistedShares does not accept, process or track IPO applications.
When does Manipal Payment and Identity Solutions list?+
Listing is scheduled for 17 Sept 2026 on NSE, BSE.
Where will Manipal Payment and Identity Solutions be listed?+
Manipal Payment and Identity Solutions is proposed for listing on NSE, BSE. It is a mainboard issue.
How large is the Manipal Payment and Identity Solutions IPO?+
The issue size is ₹805.00 Cr — a fresh issue of ₹320 cr and an offer for sale of ₹485 cr. Figures are indicative and subject to the RHP.
What is the difference between the fresh issue and the offer for sale in the Manipal Payment and Identity Solutions IPO?+
Money raised through the fresh issue goes to the company, which spends it on the purposes set out in the offer document. Money raised through the offer for sale goes to the shareholders who are selling, not to the company. That is a fact about how the issue is structured, not a view on it.
Who is the registrar for the Manipal Payment and Identity Solutions IPO?+
The registrar to the issue is MUFG Intime India Pvt.Ltd. (022-49186000), manipalpayment.ipo@in.mpms.mufg.com.
Where can I check the Manipal Payment and Identity Solutions IPO allotment status?+
Allotment status is published by the registrar on its own official portal: https://in.mpms.mufg.com/Initial_Offer/public-issues.html. Use the registrar's site directly — BuyUnlistedShares does not ask for PAN, application numbers or any other applicant detail.
What is the P/E ratio of the Manipal Payment and Identity Solutions IPO?+
The P/E ratio on file for this issue is 29.74, and the post-issue P/E is 31.02, stated as of 31 Mar 2025. A reported ratio is not a view on value.