Manipal Payment and Identity Solutions IPO Day 3: Subscription Status, Timeline & Key Issue Details

Manipal Payment and Identity Solutions's ₹805.00 crore initial public offering (IPO) entered its final day of public subscription today, September 11, 2026, with a price band of ₹322 to ₹339 per share. As of 10:10 A.M on the second day of bidding, the issue had been subscribed 0.32 times.

The basis of allotment is expected to be finalised on September 15, 2026, while the shares are tentatively scheduled to be listed on the NSE and BSE on September 17, 2026.

Manipal Payment and Identity Solutions IPO - Issue Details

• Issue Type: Book Built Issue (Fresh Issue + OFS)
• Total Issue Size: Up to ₹805.00 crore
• Fresh Issue: Up to ₹320.00 crore 
• Offer for Sale (OFS): Up to ₹485.00 crore
• Face Value: ₹2 per equity share
• Price Band: ₹322 to ₹339 per share
• Lot Size: 44 shares
• Minimum Investment Amount (Retail Investor): ₹14,916 (44 shares at the upper price)
• Listing: BSE, NSE
• Book Running Lead Managers: Motilal Oswal Investment Advisors Limited, Axis Capital Limited, ICICI Securities Limited, IIFL Capital Services Limited and Nuvama Wealth Management Limited
• Registrar: MUFG Intime India Private Limited

Manipal Payment and Identity Solutions IPO Timeline (Tentative)

The expected IPO schedule is as follows:

Note: The allotment and listing dates are tentative and may be revised.

Explore other Upcoming IPOs on BSE and NSE.

Manipal Payment and Identity Solutions IPO Day 3 Subscription Status

[September 11, 2026, 10:06 A.M.]

Utilisation of IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

• Funding the capital expenditure requirements of the company towards purchasing and setting up of new and secondhand equipment at 
• Card manufacturing facility, personalization bureau and cheque printing facility in Manipal, Karnataka
• Personalization bureau and cheque printing facility in Chennai, Tamil Nadu, Noida, Uttar Pradesh, and personalization bureau in Navi Mumbai, Maharashtra 
• Cheque printing facilities in Navi Mumbai, Maharashtra and Howrah, West Bengal
• Central cards processing centers at Chhattisgarh RTO
• Smart Tagging and IoT Solutions facility in Manipal, Karnataka (“Capital Expenditure on Equipment”)
• General corporate purposes.

About Manipal Payment and Identity Solutions Limited

Incorporated in 2008, Manipal Payment and Identity Solutions Limited, part of the Manipal Group, provides technology-enabled solutions across payments, identification, secure printing, smart tagging, and IoT. The company serves banks, fintech companies, NBFCs, and government institutions across India and international markets. Its offerings include payment cards, cheque solutions, NFC and QR-based payment products, payment-enabled wearables, and digital automation solutions. Its portfolio also covers identity documents such as driving licences and national ID cards, personalised print communications, secure logistics, tamper-evident packaging, RFID-based tracking systems, excise labels with encrypted QR codes, and anti-counterfeiting solutions.

In Fiscal 2026, the company accounted for an estimated 36.4% of India's credit card issuance market and 30.9% of the debit card issuance market. During the year, it billed 13.54 million credit cards and 72.66 million debit cards, highlighting its significant presence in India's payment card issuance ecosystem.

Key Financial Highlights 

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