Manipal Payment and Identity Solutions opens ₹320cr IPO Sept 9
Manipal Payment and Identity Solutions, one of India's top payment card makers, is opening its IPO on September 9.
The offering includes up to ₹320 crore in new shares plus 1.43 crore shares being sold by promoter Manipal Technologies.
Anchor investors can bid on September 8, and share allotment is expected by September 15.
Manipal payment to fund ₹238.4cr upgrades
About ₹238.4 crore raised will go toward upgrading manufacturing at the Manipal, Chennai, Navi Mumbai, and Chhattisgarh RTO plants.
The IPO is split for different investor types: 75% for big institutions, 15% for non-institutional folks, and just 10% for retail investors.
With a strong market share (36.4% in credit card issuance as of FY2026) and over 300 clients worldwide, Manipal Payment remains mostly owned by the Pai family but also counts Think Investments and Nuvama among its public shareholders.