Manipal Payment and Identity Solutions IPO
Manipal Payment and Identity Solutions IPO Details
-
Open Date
09 Sep 2026
-
Close Date
11 Sep 2026
- IPO Price Range
₹ 322 to ₹339
- IPO Size
₹ 805 Cr
Manipal Payment and Identity Solutions IPO Timeline
Manipal Payment and Identity Solutions IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 09-Sep-2026 | 0.00 | 0.13 | 0.73 | 0.17 |
Last Updated: 11 September 2026 5:37 PM by 5paisa
Manipal Payment & Identity Solutions Limited, part of The Manipal Group, provides payment, identification, secure, smart tagging and IoT solutions across domestic and international markets. The Company serves banks, fintechs, NBFCs and government entities, offering payment cards, identity documents, secure products and digital solutions. In Fiscal 2026, it served over 300 customers. Its operations span 10 facilities across India, supported by five Central Cards Processing Centres.
Established in: 2008
Managing Director: Abhay Anant Gupte
Peers:
| Metric | Manipal Payment & Identity Solutions Limited | Seshaasai Technologies Limited |
|---|---|---|
| Revenue from Operations for Fiscal 2026 | 1326.75 | 1441.14 |
| Face Value | 2 | 10 |
| Closing Price on August 31, 2026 (₹) | - | 385.80 |
| EPS (Basic) | 11.53 | 15.45 |
| EPS (Diluted) | 11.26 | 15.45 |
| NAV | 48.84 | 88.15 |
| P/E | - | 24.97 |
| RoNW (%) | 22.93 | 16.81 |
Manipal Payment and Identity Solutions Objectives
1. Capital Expenditure on Equipment
2. General Corporate Purposes
Manipal Payment & Identity Solutions IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹805 Cr |
| Offer For Sale | ₹485 Cr |
| Fresh Issue | ₹320Cr |
Manipal Payment & Identity Solutions IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 44 | 14,168 |
| Retail (Max) | 13 | 572 | 1,93,908 |
| S-HNI (Min) | 14 | 616 | 1,98,352 |
| S-HNI (Max) | 67 | 2,948 | 9,99,372 |
| B-HNI (Min) | 68 | 2,992 | 9,63,424 |
Manipal Payment & Identity Solutions IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 0.00 | 71,23,894 | 616 | 0.021 |
| Non-Institutional Buyers | 0.13 | 35,61,947 | 4,66,400 | 15.811 |
| bNII | 0.11 | 23,74,631 | 2,55,332 | 8.656 |
| sNII | 0.18 | 11,87,316 | 2,11,068 | 8.656 |
| Retail | 0.73 | 23,74,631 | 17,25,856 | 8.656 |
| Total** | 0.17 | 1,30,60,472 | 21,92,872 | 74.338 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 1247.52 | 1256.07 | 1326.75 |
| EBITDA | 355.57 | 408.77 | 455.83 |
| PAT | 249.17 | 282.21 | 253.46 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 1102.71 | 1409.67 | 1160.90 |
| Share Capital | 41.36 | 41.36 | 44.47 |
| Total Liabilities | 1013.10 | 1105.42 | 368.10 |
| Particulars (In ₹Crores.) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (used in) Operating Activities | 308.57 | 284.38 | 207.67 |
| Net Cash Generated From / (used in) Investing Activities | -75.88 | -586.13 | 243.07 |
| Net Cash Generated From / (used in) Financing Activities | 267.02 | -172.79 | -327.51 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 499.71 | -474.54 | 123.23 |
Strengths
1. Diversified portfolio across payments, identity and IoT
2. Strong relationships with leading banks and fintechs
3. Extensive manufacturing and personalisation infrastructure across India
4. Established presence across multiple international export markets
Weaknesses
1. Significant revenue dependence on payment card business
2. High revenue concentration among largest customer accounts
3. Dependence on limited suppliers for key materials
4. Operations require continuous compliance with security standards
Opportunities
1. Growing adoption of contactless and wearable payments
2. Expanding fintech ecosystem creates new partnership opportunities
3. International expansion can diversify geographical revenue streams
4. IoT and smart tagging offer growth avenues
Threats
1. Digital payments could reduce physical card demand
2. Raw material disruptions may affect operating margins
3. Customer losses could materially impact overall revenues
4. Rapid technological changes require continuous infrastructure investments
1. Strong position across India’s payment card market
2. Diversified portfolio across payments, identity and IoT
3. Established relationships with banks, fintechs and governments
4. International presence provides additional avenues for growth
Manipal Payment & Identity Solutions operates across the expanding payments, identification, secure solutions and IoT ecosystem. Growth in card issuance, fintech partnerships, secure identification and RFID adoption provides opportunities for business expansion. The Company’s diversified portfolio, established banking relationships and international presence support its market position. Planned investment in manufacturing and personalisation equipment could further enhance capacity, while increasing adoption of smart tagging and technology-led solutions offers additional growth avenues.
Open Free Demat Account
Be a part of 5paisa community - The first listed discount broker of India.
By proceeding, you agree to all T&C*
FAQs
Manipal Payment & Identity Solutions IPO opens from September 9 , 2026 to September 11, 2026.
The size of Manipal Payment & Identity Solutions IPO is approximately ₹805 crore.
The price band of Manipal Payment & Identity Solutions IPO is fixed at ₹322 to ₹339 per share.
To apply for Manipal Payment & Identity Solutions IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Manipal Payment & Identity Solutions IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size is 44 shares, requiring an investment of approximately ₹ 14,168.
The share allotment date of Manipal Payment & Identity Solutions IPO is September 15, 2026.
The Manipal Payment & Identity Solutions IPO will likely be listed on September 17, 2026.
Motilal Oswal Investment Advisors Ltd is the book-running lead manager.
1. Capital Expenditure on Equipment
2. General Corporate Purposes