Bookbuilding IPO | ₹[.] Cr | Listing at BSE, NSE |
SEBI has approved the Initial Public Offer (IPO) of Manipal Payment & Identity Solutions Ltd. on September 2, 2025. The company will proceed with next steps to launch the Initial Public Offer (IPO) subject to market conditions and other approvals. The SEBI approval is valid for 18 months.
Manipal Payment & Identity Solutions Ltd. IPO is a Book Build Issue consisting of fresh issue of ₹400.00 crores and an offer for sale (OFS) of upto 1.75 crore equity shares.
The equity shares are proposed to be listed on NSE and BSE. Motilal Oswal Investment Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Manipal Payment and Identity Solutions IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Fresh Issue | [.] shares (agg. up to ₹400 Cr) |
| Offer for Sale | 1,75,00,000 shares of ₹2 (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 22,23,65,000 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Sat, Jun 28, 2025 Confidential |
| SEBI/Exchange approval received | Tue, Sep 2, 2025 Confidential |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Offer |
| Retail Shares Offered | Not more than 10% of the Offer |
| NII Shares Offered | Not more than 15% of the Offer |
Manipal Payment and Identity Solutions Ltd (MPISL) is the India's largest banking and smart card manufacturer.
It offers comprehensive card services including creation, designing, manufacturing and delivering it to customers, including public and private sector banks, fintech companies, and government departments.
The company has expanded its operations globally across the United Kingdom, Europe, Asia-Pacific, and MEA regions.
The company has 10 state-of-the-art factory setups with 19 production units across 11 cities.
Manipal Payment & Identity Solutions Ltd.'s revenue increased by 1% and profit after tax (PAT) rose by 13% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 863.49 | 1,409.67 | 1,102.71 | 613.45 |
| Total Income | 292.67 | 1,277.11 | 1,267.97 | 920.48 |
| Profit After Tax | 33.93 | 282.21 | 249.17 | 117.67 |
| EBITDA | 95.33 | 408.77 | 355.57 | 178.72 |
| NET Worth | 877.54 | 619.70 | 405.05 | 222.37 |
| Reserves and Surplus | 517.55 | 262.89 | 48.25 | -134.43 |
| Total Borrowing | 0.22 | 472.87 | 449.47 | 96.62 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure on Equipment | 287.14 |
| 2 | General corporate purposes |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 55.08 |
| ROCE | 33.97 |
| Debt/Equity | 0.76 |
| RoNW | 45.54 |
| PAT Margin | 22.10% |
| EBITDA Margin | 32.01% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 62.10% |
Manipal Payment and Identity Solutions files confidential DRHP with SEBI to raise approximately Rs 1,200 crore from IPO.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs (including underwriting commission, brokerage and selling commission) | |
| 2 | Commission/processing fee for SCSBs and Bankers to the Offer and fee payable to the Sponsor Banks for Bids made by RIBs using UPI | |
| 3 | Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | |
| 4 | Fees payable to the Registrar to the Offer | |
| 5 | Fees payable to others | |
| 6 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | |
| 7 | Printing and stationery | |
| 8 | Advertising and marketing expenses for the Offer | |
| 9 | Fee payable to legal counsels | |
| 10 | Miscellaneous |
Manipal Payment and Identity Solutions IPO is a main-board IPO of 0 equity shares of the face value of ₹2 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Manipal Payment and Identity Solutions IPO open and close dates are not available as of now.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Manipal Payment and Identity Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in Manipal Payment and Identity Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Manipal Payment and Identity Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Manipal Payment and Identity Solutions IPO dates are not announced. Please check back again after some time.
Manipal Payment and Identity Solutions IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Manipal Payment and Identity Solutions IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Manipal Payment and Identity Solutions IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Manipal Payment and Identity Solutions IPO allotment status.
The Manipal Payment and Identity Solutions IPO listing date is not yet announced. The tentative date of listing is .
