Manipal Payment and Identity Solutions IPO
Issue details, the company's financials from its prospectus, subscription and listing performance, explained in plain English. Data from NSE and the Red Herring Prospectus.
About the issue
Manipal Payment and Identity Solutions Limited was open for subscription from 9 Sep 2026 to 11 Sep 2026 on the main board of NSE, in the financial technology (fintech) industry as classified by NSE. The issue size is ₹805.0 cr: ₹320.0 cr of new shares (fresh issue) and ₹485.0 cr of existing shares sold by current shareholders (offer for sale). One lot of 44 shares costs ₹14,916 at the upper end of the price band.
What the numbers show
- Revenue from operations grew from ₹1,248 cr in FY24 to ₹1,327 cr in FY26, about 3% a year.
- Profit after tax rose from ₹249.2 cr to ₹253.5 cr, while the profit margin narrowed from 20.0% to 19.1%.
- Return on net worth declined from 61.5% to 22.9%.
- 60% of the issue is an offer for sale (₹485.0 cr), which goes to the selling shareholders; the remaining ₹320.0 cr is new money for the company.
- The issue was subscribed 1.42× overall (QIBs 1.26×, non-institutional investors 1.22×, retail investors 2.19×).
- It listed on 17 Sep 2026 at ₹330, 2.7% below the issue price of ₹339, and closed its first day at ₹345.15.
These points are calculated from the prospectus and NSE data. They describe the company; they are not a recommendation to apply or not.
Financial performance
| ₹ crore unless stated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue from operations | 1,248 | 1,256 | 1,327 |
| Total income | 1,268 | 1,277 | 1,357 |
| EBITDA | 355.6 | 408.8 | 455.8 |
| EBITDA margin | 28.0% | 32.0% | 33.6% |
| Profit after tax | 249.2 | 282.2 | 253.5 |
| Profit margin | 20.0% | 22.5% | 19.1% |
| Net worth | 405.1 | 619.7 | 1,105 |
| EPS (diluted) | ₹12.03 | ₹13.41 | ₹11.26 |
| Return on net worth | 61.5% | 45.5% | 22.9% |
| NAV per share | ₹19.59 | ₹29.68 | ₹48.84 |
Valuation at the issue price
| Measure | Value | How it is calculated |
|---|---|---|
| Market capitalisation | ₹7,858 cr | Shares after the issue × ₹339 |
| P/E (pre-issue EPS) | 30.1× | ₹339 ÷ earnings per share of the latest full year, before the new shares |
| P/E (post-issue) | 31.0× | Market capitalisation ÷ latest full-year profit after tax |
| Price to book | 6.82× | ₹339 ÷ book value per share (latest net worth ÷ shares before the issue) |
Subscription
| Investor category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| Qualified Institutional Buyers(QIBs) | 71,23,895 | 89,64,164 | 1.26× |
| Non Institutional Investors | 35,61,946 | 43,46,144 | 1.22× |
| Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 23,74,631 | 29,40,828 | 1.24× |
| Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | 11,87,315 | 14,05,316 | 1.18× |
| Retail Individual Investors(RIIs) | 23,74,631 | 52,02,296 | 2.19× |
| Total | 1,30,60,472 | 1,85,12,604 | 1.42× |
Listing and performance
| Price | Change from issue price | |
|---|---|---|
| Issue price | ₹339 | – |
| Listing day open (17 Sep 2026) | ₹330 | −2.7% |
| Listing day high / low | ₹350.50 / ₹315.65 | – |
| Listing day close | ₹345.15 | +1.8% |
| Latest close (8 Oct 2026) | ₹361.80 | +6.7% |
| NIFTY 50 since listing day | −4.5% |
Frequently asked questions
What is the price band of the Manipal Payment and Identity Solutions IPO?
The price band is ₹322–339 per share, for shares with a face value of ₹2. The final issue price was ₹339.
What is the lot size and minimum investment?
Bids are made in lots of 44 shares, so one lot costs ₹14,916 at the upper end of the price band.
When does the Manipal Payment and Identity Solutions IPO open and close?
Bidding opened on 9 Sep 2026 and closed on 11 Sep 2026. The shares listed on NSE on 17 Sep 2026.
How many times was the Manipal Payment and Identity Solutions IPO subscribed?
It was subscribed 1.42× overall, according to NSE bid data.
Where can I check the allotment status?
The registrar to the issue is MUFG Intime India Private Limited. Allotment status can be checked on the registrar's website with your PAN or application number, and on the NSE and BSE websites, usually a day or two after the issue closes.
What was the listing gain of the Manipal Payment and Identity Solutions IPO?
It opened at ₹330 on 17 Sep 2026, 2.7% below the issue price of ₹339.
Is this a recommendation to apply?
No. This page summarises public information so you can read the prospectus with the key numbers in mind. Whether to apply depends on your own goals and risk tolerance; consider speaking to a SEBI-registered investment adviser.
Data: NSE (issue details, bids, prices) and the company's Red Herring Prospectus filed with SEBI. Figures are reproduced and converted with care but may contain errors; check the prospectus before making any decision. This page is for information and education only. It is not a recommendation to apply for, buy or sell any security. See our disclaimer.