Manipal Payment IPO Price Band Fixed At ₹322-339; Issue To Open On Sep 9

Manipal Payment and Identity Solutions Ltd on Friday announced a price band of ₹322-339 per equity share for its ₹805-crore Initial Public Offering (IPO), which will open for public subscription on September 9.

The IPO comprises a fresh issue of equity shares aggregating to ₹320 crore, along with an Offer for Sale (OFS) of up to 1.43 crore equity shares worth ₹485 crore by promoter Manipal Technologies.

At the upper end of the price band, the total issue size stands at around ₹805 crore, while the post-issue implied market capitalisation will be around ₹7,858 crore.

The IPO will close on September 11, while bidding for anchor investors will open on September 8.

Manipal Payment plans to use the proceeds from the fresh issue to purchase and install new and second-hand equipment across its facilities in Manipal, Chennai, Navi Mumbai and Chhattisgarh RTO.

Manipal Payment provides payment, identification, secure solutions and smart tagging and Internet of Things (IoT) solutions to banks, fintechs, non-banking finance companies and governments across domestic and international markets.

Its payment solutions include payment cards, cheque solutions, near-field communication (NFC) and quick-response (QR) codes, payment-enabled wearables and digital automation solutions.

The company had filed its draft IPO papers with Sebi in June 2025 through the confidential pre-filing route, which allows companies to keep IPO details undisclosed until a later stage. Later, it received Sebi approval in December 2025.

The equity shares are proposed to be listed on both BSE and NSE on September 17.

Axis Capital, Motilal Oswal Investment Advisors, ICICI Securities, IIFL Capital Services and Nuvama Wealth Management are the book-running lead managers to the issue.