Manipal Payment and Identity Solutions IPO Price Band Set at ₹322-339; Issue Opens September 9

Manipal Payment and Identity Solutions is getting ready to enter the public market. The company has fixed a ₹322-339 price band for its ₹805-crore IPO, with bidding set to begin on September 9, 2026, and continue until September 11, 2026. 

The issue will include both fresh shares and a sale by the company's promoter, Manipal Technologies. 

Fresh Issue Accounts For ₹320 Crore 

Of the total issue, ₹320 crore will come through a fresh issue. Another ₹485 crore will be raised through an Offer for Sale of up to 1.43 crore shares by Manipal Technologies. 

At the upper end of the price band, the IPO will give the company an implied post-issue market capitalisation of around ₹7,858 crore. Anchor investors can place their bids on September 8, 2026. 

Money To Go Into Equipment 

Manipal Payment plans to use the fresh issue proceeds to buy and install new as well as second-hand equipment. 

The equipment will be deployed across its facilities in Manipal, Chennai, Navi Mumbai and Chhattisgarh RTO, according to the company. 

Payments And Identification Form The Core Business 

The company works across payment, identification and secure solutions, along with smart tagging and IoT products. Its customers include banks, fintech companies, NBFCs and government organisations in domestic and international markets. 

Its payment business covers products and services such as payment cards, cheque solutions, NFC and QR-based payments, payment-enabled wearables and digital automation. 

Shares To List on BSE & NSE 

The company had filed its draft IPO papers through the confidential pre-filing route in June 2025 and received SEBI approval in December 2025. 

The shares are proposed to list on BSE and NSE on September 17. Axis Capital, Motilal Oswal Investment Advisors, ICICI Securities, IIFL Capital Services and Nuvama Wealth Management are managing the issue. 

Read More: Flexi-Cap Mutual Funds See ₹49,915 Crore Inflows Between Jan-July 2026! 

Conclusion 

Manipal Payment and Identity Solutions will now move into the subscription phase of its IPO, with the ₹805-crore issue opening on September 9. The fresh capital is earmarked for equipment across its facilities, while the OFS will allow Manipal Technologies to sell shares. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.