Shares of Manipal Payment and Identity Solutions made a muted market debut on Thursday, declining nearly 3% against the issue price of ₹339.
The stock opened at ₹332, with a discount of 2% from the issue price on the BSE.
At the NSE, it started trading at ₹330, down 2.65%.
1 September 2026
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The company's market valuation stood at ₹7,431.65 crore.
Manipal Payment's ₹805-crore initial share sale was subscribed 1.42 times on Friday last week.
The company had fixed a price band of ₹322-339 per share for its ₹805-crore IPO. The issue had a fresh issue of ₹320 crore and an OFS of up to 1.43 crore shares worth ₹485 crore.
Manipal Payment and Identity Solutions Ltd had raised ₹362.25 crore from anchor investors.
Manipal Payment plans to use the proceeds from the fresh issue to purchase and install new and second-hand equipment across its various facilities in Manipal, Chennai, Navi Mumbai and Chhattisgarh RTO.
The company 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.
