Manipal Payment & Identity Solutions Limited
IPO Details
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₹-6(-1.77%)
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Following its successful public offering, Manipal Payment & Identity Solutions Limited's made its market debut on Sep 17, 2026 and is now actively traded on the NSE, BSEplatform. The IPO mobilized 2,37,46,313 Shares in total capital, including 94,39,528 Shares in primary equity infusion and ₹485.00 Cr in secondary share sales.
The offering was structured with a price band of ₹322 to ₹339 and minimum investment lots of 44 shares. Investor participation during the subscription window from Sep 09, 2026 to Sep 11, 2026 demonstrated market confidence in the company's prospects.
The allotment process concluded on Sep 15, 2026, allocating shares to successful bidders. The listing represents the culmination of the IPO process, transitioning the company to publicly traded status with enhanced transparency and governance standards.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
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."
- Leading Payment Card Manufacturer: The company is one of India’s leading payment card manufacturers and also has a strong position globally. It handles the complete card manufacturing and delivery process.
- Long-Standing Customer Relationships: MPISL has built strong relationships with well-known customers across the banking, fintech and government sectors, supporting its position in the payment card industry.
- Wide & Innovative Product Portfolio: The company offers a wide range of card solutions, covering design, manufacturing, personalisation and delivery to meet different customer requirements.
- Customer Concentration Risk: The company depends significantly on its top 10 customers for revenue. Losing key customers or receiving fewer orders from them could negatively affect revenue and financial performance.
- Supplier Concentration & Supply Risk: A large portion of raw material purchases comes from the top 10 suppliers. Any supply delays, failure to meet requirements or increase in supplier prices could affect business operations and costs.
- Dependence on Card Manufacturing: A significant share of the company’s revenue comes from manufacturing and selling payment cards. Any negative changes in this business segment could impact revenue, profitability and cash flow.
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