Manipal Payment and Identity Solutions IPO: dates, price band, lot size and GMP
Manipal Payment and Identity Solutions IPO listed on 17 Sep at ₹330 (NSE, BSE). Issue dates 9 – 11 Sep 2026, price band ₹322 – ₹339, lot 44 shares. The shares now trade on the exchange; any pre-IPO price on this site is historical.
Listing: Manipal Payment and Identity Solutions listed on 17 Sep 2026 on NSE, BSE at ₹330, −₹9 (−2.7%) against the ₹339 upper band. Manipal Payment and Identity Solutions IPO listing date, price and gain · Recently listed IPOs
Updated 19 Oct 2026, 08:01 IST. Unofficial grey-market figures, dated.
BuyUnlistedShares tracks 208 IPOs on its calendar; the Manipal Payment and Identity Solutions IPO has a price band of ₹322 – ₹339, a lot of 44 shares and no grey-market premium reported yet as of 19 Oct 2026.
Key details
| Board | Mainboard |
|---|---|
| Issue dates | 9 – 11 Sep 2026 |
| Price band | ₹322 – ₹339 |
| Lot size | 44 shares |
| Issue size | ₹805.00 Cr |
| Fresh issue | ₹320 Cr |
| Offer for sale | ₹485 Cr |
| Subscription | 1.42x |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead managers | Motilal Oswal Investment Advisors Ltd., Axis Capital Ltd., ICICI Securities Ltd., IIFL Capital Services Ltd., Nuvama Wealth Management Ltd. |
| Status | Listed |
Timeline
- Issue opens: 9 Sep
- Issue closes: 11 Sep
- Allotment: 15 Sep
- Refunds: 16 Sep
- Demat credit: 16 Sep
- Listing: 17 Sep
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 1.26x |
| NII | 1.22x |
| sNII | 1.18x |
| bNII | 1.24x |
| Retail | 2.19x |
| Total | 1.42x |
Last updated 11 Sep 2026, 6:53 PM IST.
Issue details
| Face value | ₹2 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE, BSE |
| Market cap at the upper band | ₹7,858.17 Cr |
| P/E (pre-issue) | 29.74x |
| P/E (post-issue) | 31.02x |
| Fresh issue (shares) | 94,39,528 |
| Offer for sale (shares) | 1,43,06,785 |
| Total shares offered | 2,37,46,313 |
| Promoter holding pre-issue | 62.1% |
| Promoter holding post-issue | 53.92% |
| Promoters | Tonse Gautham Pai, T.Satish U.Pai, Sandhya S.Pai, Manipal Technologies Ltd., Manipal Media Network Ltd., Tridevitha Consultancy Services Pvt.Ltd., Tridevita Family Trust 2017 |
| Lead managers | Motilal Oswal Investment Advisors Ltd., Axis Capital Ltd., ICICI Securities Ltd., IIFL Capital Services Ltd., Nuvama Wealth Management Ltd. |
| Registrar phone | 022-49186000 |
| Registrar email | manipalpayment.ipo@in.mpms.mufg.com |
| Company website | mpimanipal.com |
| Anchor bid date | 8 Sep 2026 |
| Anchor lock-in ends (50%) | 15 Oct 2026 |
| Anchor lock-in ends (remaining) | 14 Dec 2026 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 1 | 44 | ₹14,916 |
| Retail (maximum) | 14 | 616 | ₹2,08,824 |
| sNII (minimum) | 14 | 616 | ₹2,08,824 |
| bNII (minimum) | 68 | 2,992 | ₹10,14,288 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| Anchor Investor | 45% | 1,06,85,841 | |
| QIB | 30% | 71,23,895 | Not less than 75% of the Offer |
| NII (HNI) | 15% | 35,61,946 | Not more than 15% of the Offer |
| sNII | 5% | 11,87,315 | |
| bNII | 10% | 23,74,631 | |
| Retail | 10% | 23,74,631 | Not more than 10% of the Offer |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 9 Sep | 0.00x | 0.13x | 0.18x | 0.11x | 0.73x | 0.17x |
| Day 2 · 10 Sep | 0.03x | 0.24x | 0.34x | 0.20x | 1.22x | 0.31x |
| Day 3 · 11 Sep | 1.26x | 1.22x | 1.18x | 1.24x | 2.19x | 1.42x |
Key ratios as of 31 Mar 2025
| EPS (pre-issue) | ₹11.4 |
|---|---|
| EPS (post-issue) | ₹10.93 |
| P/E (pre-issue) | 29.74x |
| P/E (post-issue) | 31.02x |
| RoNW | 45.54% |
| RoCE | 33.97% |
| RoE | 55.08% |
| PAT margin | 22.1% |
| EBITDA margin | 32.01% |
| Price / book | 11.42x |
| NAV per share | ₹29.68 |
| Debt / equity | 0.76 |
| Market cap (upper band) | ₹7,858.17 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 1,160.9 | 1,409.67 | 1,102.71 | −17.6% |
| Total Income | 1,356.59 | 1,277.11 | 1,267.97 | +6.2% |
| Profit After Tax | 253.46 | 282.21 | 249.17 | −10.2% |
| EBITDA | 455.83 | 408.77 | 355.57 | +11.5% |
| NET Worth | 1,107.34 | 619.7 | 405.05 | +78.7% |
| Reserves and Surplus | 747.43 | 262.89 | 48.25 | +184.3% |
| Total Borrowing | 0.42 | 472.87 | 449.47 | −99.9% |
About Manipal Payment and Identity Solutions
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.
Objects of the issue
- Capital Expenditure on Equipment — ₹238.43 Cr
- General Corporate Purposes — ₹56.9 Cr
- Issue Expenses — ₹62.02 Cr
Net proceeds: ₹357.34 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Manipal Payment & Identity Solutions Ltd. (issuer) | 11.53 | 11.26 | 48.84 | — | 22.93% | — | Restated |
| Seshaasai Technologies Limited | 15.45 | 15.45 | 88.15 | 24.97x | 16.81% | 4.38 | — |
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.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- Manipal Payment and Identity Solutions IPO listing day: listed at ₹330 (−2.7% vs the upper band), 17 Sep 2026
- Manipal Payment and Identity Solutions IPO GMP today and trend
- Manipal Payment and Identity Solutions IPO subscription status, day by day
- Manipal Payment and Identity Solutions IPO allotment status and how to check
Frequently asked questions
When does the Manipal Payment and Identity Solutions IPO open and close?
The issue is scheduled for 9 – 11 Sep 2026.
What is the Manipal Payment and Identity Solutions IPO price band?
The price band is ₹322 – ₹339 per share with a lot size of 44 shares.
How big is the Manipal Payment and Identity Solutions IPO?
The total issue size is ₹805.00 Cr, of which ₹320 Cr is a fresh issue and ₹485 Cr an offer for sale.
When will Manipal Payment and Identity Solutions list?
The tentative listing date is 17 Sep on the main board.
How do I apply for the Manipal Payment and Identity Solutions IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Manipal Payment and Identity Solutions · as filed with SEBI · sebi.gov.in
- Red herring prospectus (RHP), Manipal Payment and Identity Solutions · as filed · sebi.gov.in
- Registrar allotment page, MUFG Intime India Pvt.Ltd. · allotment 15 Sep · in.mpms.mufg.com
- NSE public issues page · listing 17 Sep · nseindia.com
- BSE public issues page · listing 17 Sep · bseindia.com
- Manipal Payment and Identity Solutions company website · mpimanipal.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 17 Sep, 04:06 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Manipal Payment and Identity Solutions IPO”, https://buyunlistedshares.com/ipo/manipal-payment-and-identity-solutions-ipo, as of 19 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. In the market since 2002. Data as of 19 Oct 2026.
Guides for IPO applicants and pre-IPO holders
- The risks of buying unlisted and pre-IPO shares in India
- Unlisted Shares Lock-In Period: What Every Investor Must Know (2026)
- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
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