Manipal Payment & Identity Solutions came to market through an IPO that opened on 9 September 2026 and closed on 11 September 2026, and the shares listed on 17 September 2026 on BSE, NSE. The price band was ₹322 to ₹339 per share and one lot was 44 shares, so the minimum application was ₹14,916. The issue size was ₹805 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
It listed at ₹330, a loss of 2.7% against the issue price of ₹339. MUFG Intime India Pvt.Ltd was the registrar to the issue, and Motilal Oswal Investment Advisors Ltd., Axis Capital Ltd., ICICI Securities Ltd., IIFL Capital Services Ltd., Nuvama Wealth Management Ltd were the lead managers.
As of 11 September 2026.
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Overall the issue was subscribed 1.42 times.
Manipal Payment and Identity Solutions Ltd (MPISL) is the largest banking and smart card manufacturer in India. It provides end-to-end card services, ranging from the design and production to the delivery of the card to its customers, which include banks and government agencies.The Company has extended its business globally across the United Kingdom, Europe, Asia-Pacific, and MEA regions. The company boasts 10 modern manufacturing facilities and 19 units in 11 cities.
As described in the offer document.
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Manipal Payment and Identity Solutions Limited finalised its anchor investor allocation on September 8, 2026, raising ₹362.25 crore from 36 institutional investors at an anchor price of ₹339 per share. The anchor book comprises 1,06,85,841 equity shares, with domestic mutual funds receiving 32.85% of the allocation through 4 fund houses across 16 schemes, including Motilal Oswal Mutual Fund, Baroda BNP Paribas Mutual Fund, ITI Mutual Fund, and Groww Mutual Fund.
Edelweiss Life Insurance Company Limited was the sole life insurance participant, receiving 2.77%. The remaining allocation went to a broad mix of AIFs and foreign portfolio investors, led by Abakkus Emerging Opportunities Fund-1 at 8.28%, CSIM India Opportunities Fund 1 at 5.53%, and New Mark Capital, SageOne, Sanshi Fund-I, Alchemy Emerging Leaders of Tomorrow, and Girik Multicap Growth Equity Fund, each at 5.38%.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Manipal Payment & Identity Solutions IPO was a ₹805 crore book-built issue, comprising a fresh issue of ₹320 crore and an offer for sale of ₹485 crore. It was priced at ₹322–₹339 per share with a lot size of 44 shares (₹14,916). The IPO was open from September 9 to September 11, 2026 and was subscribed 1.42x. Shares listed on BSE and NSE on September 17, 2026 at ₹330, a 2.7% discount to the issue price of ₹339.
MUFG Intime India Pvt. Ltd. is the registrar. Motilal Oswal Investment Advisors Ltd. and 4 other book running lead managers manage the issue.
The price band of Manipal Payment & Identity Solutions IPO is ₹322 to ₹339 per share.
The lot size of Manipal Payment & Identity Solutions IPO is 44 shares.
The minimum investment for Manipal Payment & Identity Solutions IPO is approximately ₹14,916 based on the upper price band.
The allotment date of Manipal Payment & Identity Solutions IPO is Sep 15, 2026.
No GMP quote could be verified as recorded before Manipal Payment & Identity Solutions IPO listed. A grey-market observation of ₹0 per share was recorded on 17 Sep 2026, 7:00 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹330. GMP is unofficial and does not forecast or guarantee the actual listing price.
Manipal Payment & Identity Solutions IPO listed on Sep 17, 2026. It was issued at ₹330.0(NSE) and is currently around ₹304.95 as on 30-Oct-2026 3:30 PM, which is approximately -10.0% versus issue price. The 52-week high is ₹458.00.
You can check Manipal Payment & Identity Solutions IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Manipal Payment & Identity Solutions IPO allotment status on Rupix for quick and easy access.
₹322 to ₹339 per share, against a face value of ₹2. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 44 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,916.
₹14,916, for one lot of 44 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 9 September 2026 and closed on 11 September 2026.
The basis of allotment was published on 15 September 2026 by MUFG Intime India Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 17 September 2026 on BSE, NSE, opening at ₹330.
The issue size was ₹805 crore. The fresh issue was 94,39,528 shares (aggregating up to ₹320 crore). The offer for sale was 14,30,67,85 shares (aggregating up to ₹485 crore).
It listed at ₹330 against an issue price of ₹339, a loss of 2.7 percent on listing day.