The Manipal Payment & Identity Solutions IPO opened for bidding on 9 September and will close on 11 September.
The company has set the IPO price band at ₹322–339 per equity share. The issue includes a fresh issue of shares worth ₹320 crore and an Offer for Sale (OFS) of up to 1.43 crore shares, valued at ₹485 crore, by promoter Manipal Technologies.
At the upper price band, the total IPO size is estimated at around ₹805 crore, while the company’s implied post-issue market capitalisation is expected to be approximately ₹7,858 crore.
Manipal Payment and Identity Solutions IPO GMP stood at ₹8 as of September 10. With the upper price band fixed at ₹339 per share, the IPO is estimated to list at around ₹347, indicating an expected gain of 2.36% per share, according to Investorgain.
Brokerage firm SBI Securities has assigned ‘neutral’ rating to the Manipal Payment & Identity Solutions IPO, saying that the issue is valued at 30.7x FY26 post-issue P/E. While MPISL is well-placed to benefit from growth in payment and identity solutions, muted revenue growth, rising working capital requirements, and the increasing adoption of digital payment alternatives such as UPI may impact future growth outlook.