Manipal Payment & Identity Solutions Limited IPO
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Manipal Payment & Identity Solutions Limited's is preparing to launch its Initial Public Offering (IPO) with a substantial issue size of TBD. The offering comprises a fresh issue component of TBD.
The price band for the IPO has been set at TBD, providing investors with a range to place their bids. The minimum investment lot consists of TBD, making it accessible to both retail and institutional investors.
The subscription window for this public offering opens on TBD and will conclude on TBD. Following the subscription period, the share allotment is scheduled for TBD, with the official listing expected to commence on TBD on the NSE, BSE exchange.
Manipal Payment IPO About Company
Manipal Payment and Identity Solutions Ltd (MPISL) is India’s largest banking and smart card manufacturer, offering end-to-end card services that cover design, production, personalization, and secure delivery for clients including banks and government agencies. The company has expanded its operations globally across the United Kingdom, Europe, Asia-Pacific, and the Middle East and Africa regions, supported by a strong infrastructure of 10 modern manufacturing facilities and 19 units spread across 11 cities, enabling it to serve large-scale domestic and international requirements efficiently.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
The expected premium is based on market buzz and online information. It should not be considered as the actual listing price or valuation. Always refer to the RHP and seek advice from a financial expert before making any investment decisions.
Manipal Payment IPO Strength Factors
- Strong Domain Expertise: MPISL has deep experience in secure printing and identity solutions, including cards, documents, and digital identity products.
- Diverse Product Portfolio: Offers payment cards, government IDs, smart cards, and secure documents, serving multiple industries.
- Presence Across Sectors: Works with banks, financial institutions, government bodies, telecom companies, and corporates, reducing reliance on a single sector.
- Focus on Security & Compliance: Strong emphasis on data security, fraud prevention, and regulatory compliance.
- Technology-Driven Solutions: Combines physical security printing with digital and embedded technology solutions.
- Established Client Relationships: Long-standing relationships with large institutions provide repeat business.
Manipal Payment IPO Risk Factors
- Dependence on Institutional Clients: Revenue largely depends on banks, governments, and large enterprises, leading to longer sales cycles.
- Margin Pressure: Pricing pressure from large clients and tenders can impact profitability.
- Capital-Intensive Operations: Secure printing and manufacturing require continuous investment in equipment and technology.
- Regulatory Dependence: Business is influenced by government policies, regulations, and project approvals.
- Limited Direct Consumer Presence: Operates mainly as a B2B company with low brand visibility among end consumers.
Manipal Payment IPO Lead Manager(s)
- Motilal Oswal Investment Advisors Limited
- Axis Capital Limited
- ICICI Securities Limited
- IIFL Securities Limited
- Nuvama Wealth Management Limited
Manipal Payment IPO Promoter(s)
- Tonse Gautham Pai
- T. Satish U. Pai
- Sandhya S. Pai
- Manipal Technologies Limited
- Manipal Media Network Limited
- Tridevitha Consultancy Services Private Limited
- Tridevita Family Trust 2017
Manipal Payment IPO FAQs
Manipal Payment & Identity Solutions Limited IPO subscribed 0 times. The public issue subscribed -- times in the retail category,-- times in QIB, and -- times in the HNI (10+) category byJanuary 22, 2026 9:18:37 AM (Day 22).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Manipal Payment IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Manipal Payment IPO FAQs
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Manipal Payment & Identity Solutions Limited was listed on the stock exchange on . The IPO was subscribed 0x. The last GMP for Manipal Payment & Identity Solutions Limited IPO was ₹0, updated on January 22, 2026 9:18:37 AM (Day 22). As per the last GMP, the expected profit/loss for the IPO was ₹0.
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If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on or send an email with all relevant details to .