Manipal Payment IPO Opens September 9, Price Band Set At ₹322–339 per Share

New Delhi: Manipal Payment and Identity Solutions has fixed the price band for its ₹805-crore initial public offering at ₹322–339 per equity share. The Manipal Payment IPO will open for public subscription on September 9 and close on September 11.

The bidding process for anchor investors will begin on September 8. At the upper end of the IPO price band, the company’s implied post-issue market capitalisation is estimated at around ₹7,858 crore.

The public issue includes a fresh issue of shares worth ₹320 crore and an offer for sale of up to 1.43 crore shares valued at approximately ₹485 crore. Promoter Manipal Technologies will sell shares through the OFS component.

How will the company use the funds?

Manipal Payment plans to use the proceeds from the fresh issue to purchase and install new as well as second-hand equipment at its facilities.

The expansion will cover company units located in Manipal, Chennai, Navi Mumbai and the Chhattisgarh Regional Transport Office.

Manipal Payment business profile

The company provides payment, identification, secure technology, smart-tagging and Internet of Things solutions. Its customers include banks, fintech companies, non-banking financial companies and government agencies in India and overseas.

Its product portfolio covers payment cards, cheque solutions, quick-response codes, near-field communication technology, payment-enabled wearable devices and digital automation services.

Manipal Payment filed its draft IPO documents with the Securities and Exchange Board of India through the confidential pre-filing route in June 2025. It subsequently received regulatory approval in December 2025.

The shares are scheduled to list on the 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.