The initial public offering (IPO) of Manipal Payment & Identity Solutions continued to witness weak investor interest on the second day of bidding, with the issue receiving 22 percent subscription as of 11:50 am on September 10, as per the NSE data.
The grey market premium (GMP) for Manipal Payment & Identity Solutions stood at zero on September 10, indicating a flat listing, according to Investorgain. The GMP is an unofficial indicator of market sentiment and does not guarantee the listing price or returns.
The Rs 805-crore IPO comprises a fresh issue of shares worth up to Rs 320 crore and an offer-for-sale (OFS) of shares worth up to Rs 485 crore by promoter Manipal Technologies.
The company has fixed the price band at Rs 322-339 per share. At the upper end of the price band, the fresh issue is expected to raise Rs 320 crore.
Ahead of the IPO, the company raised Rs 362.25 crore from 23 anchor investors. On September 8, Manipal Payment allocated 1.06 crore equity shares to anchor investors at Rs 339 apiece.