Manipal Payment & Identity Solutions has opened its initial public offering (IPO) today, with the issue receiving 10 percent subscription as of 12:30 pm on September 9, as per the NSE data.
The grey market premium (GMP) for Manipal Payment & Identity Solutions stood at around 10 percent, according to Investorgain. The GMP is an unofficial indicator of market sentiment and does not guarantee the listing price or returns.
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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.