| Check Manipal Payment filing with SEBI. | Check Manipal Payment IPO allotment |
Manipal Payment and Identity Solutions Limited is a leading provider of secure payment and identity solutions, specializing in the manufacturing, personalization, and logistics of payment cards and identity credentials.
It offers end-to-end services to banks, fintechs, and governments — including card design, production, instant-issuance systems, and smart identity cards.
Manipal Payment is raising money via IPO of which Fresh Issue is ~ ₹400 Crore Offer for Sale of up to ~1.75 Crore shares.
Subscription date to apply for Manipal Payment and Identity Solutions Limited starts and closes on TBA. Price band for the IPO is yet to be announced.
Revenue, PAT, EBITDA of Manipal Payment and Identity Solutions Limited
| Year | Fiscal 2025 |
| Networth | ~ ₹ 619.69 Cr |
| Revenue: | ~ ₹ 1256.07 Cr |
| EBITDA | ~ ₹ 408.76 Cr |
| PAT | ~ ₹ 282.21 Cr |
| EBITDA Margin: | ~32.01% |
| PAT Margin | ~22.10% |
Manipal Payment and Identity Solutions Limited Financials (Consolidated Figures)
| Year (Approx Values) | Revenue (₹ Cr) | Profit (₹ Cr) | Assets (₹ Cr) | Net Worth (₹ Cr) |
| 2023 | ₹ 902.2 | ₹ 117.7 | ₹ 613.5 | ₹ 222.4 |
| 2024 | ₹ 1,247.5 | ₹ 249.2 | ₹ 1,102.7 | ₹ 405.1 |
| 2025 | ₹ 1,256.1 | ₹ 282.2 | ₹ 1,409.7 | ₹ 619.7 |
Manipal Payment and Identity Solutions Limited IPO Grey market premium today
| Date | IPO Price | IPO GMP | GMP Trend | Estimated listing | Estimated profit per lot |
| 05-Dec | ₹ TBA | ₹ NA | – | ₹ – | ₹ – |
| 04-Dec | ₹ TBA | ₹ NA | – | ₹ – | ₹ – |
| 03-Dec | ₹ TBA | ₹ NA | – | ₹ – | ₹ – |
| 02-Dec | ₹ TBA | ₹ NA | – | ₹ – | ₹ – |
| 01-Dec | ₹ TBA | ₹ NA | – | ₹ – | ₹ – |
Manipal Payment and Identity Solutions Limited IPO Pros & Cons
Strengths:
- Strong market leader in payment cards with >30% market share.
- Diversified offerings across payments, identity, IoT, logistics.
- Growing demand from banks, fintechs, and govt projects.
- Capacity expansion boosts future scalability.
- Long-term clients ensure stable revenue visibility.
Risks:
- Heavy dependence on banking and govt orders.
- High competition may pressure margins.
- Capex execution risks could impact growth.
- Regulatory changes may affect secure-printing business.
- Logistics and raw-material costs can fluctuate.
Manipal Payment and Identity Solutions Limited: IPO date & invest detail
| IPO Open Date: | Dec’25 |
| IPO Close Date: | TBA |
| Anchor Investor Bidding | TBA |
| IPO Allotment Date: | TBA |
| Refunds & Demat Credit | TBA |
| Tentative Listing Date: | TBA |
| IPO Category | Mainboard |
| Symbol | |
| Face Value: | Rs. 02 per Equity Share |
| Issue Size: | Fresh issue ₹ 400 crore + OFS up to 1.75 crore shares |
| Lot Size: | TBA |
Manipal Payment and Identity Solutions Limited IPO Composition & Proceeds
| Fresh Issue: | ~ ₹ 400 Crore |
| Offer for Sale: | ~ 1.75 Crore equity shares |
| Employee reservation | – |
| Price Range | TBA |
| Use of Proceeds: | |
| Borrowing payment | Nill |
| Capital Expenditure on Equipment | ~ ₹ 287.14 Cr |
| Technology & Infrastructure | Nill |
| General Corporate Purpose | Balance |
| IPO Listing on: | BSE – NSE |
| Retail Quota: | ≤ 10% |
| QIB Quota: | ≥ 75% |
| NII Quota: | ≤ 15% |
Manipal Payment and Identity Solutions Limited Lot Size details
| Application Type | Lot Size | No. of Lots | No. of Shares | Investment Amount |
| Retail(Min) | – | 1 | – | ₹ – |
| Retail (Max) | – | 13 | – | ₹ – |
| Small HNI (Min) | – | 14 | – | ₹ – |
| Small HNI (Max) | – | 66 | – | ₹ – |
| Big HNI (Min) | – | 67 | – | ₹ – |
Core Offerings of Manipal Payment and Identity Solutions Limited
Manipal Payment and Identity Solutions Limited offers payment-solutions (cards, wearables, NFC/QR, cheque), identity-solutions (driving licences, national IDs, transit cards), secure-printing & logistics (personalisation, holograms, secure packaging), and IoT/smart-tagging (RFID, anti-counterfeit).
Manipal Payment and Identity Solutions Limited Promoters – Pre offer equity (Approx)
| Manipal Technologies Ltd | 62.10% |
| Manipal Media Network Ltd | – |
Lead Managers / Registrars of Manipal Payment and Identity Solutions Limited
| Lead / Book Running Lead Managers | Motilal Oswal Investment Advisors Ltd, Axis Capital Ltd, ICICI Securities Ltd, ICICI Securities Ltd, ICICI Securities Ltd |
| Registrar (RTA) | MUFG Intime India Pvt Ltd |
Founding Year of Manipal Payment and Identity Solutions Limited & Managing Director
It was incorporated in Feb 2008.
Mr Kukkundoor Girish Kini is the MD & CEO of the company.
Manipal Payment and Identity Solutions Limited FAQ
Q1. What is the business of Manipal Payment and Identity Solutions Limited?
Manipal Payment provides payment-solutions like cards, NFC/QR, cheque, identification-solutions (e.g., driver’s licenses, national IDs), secure-printing & logistics, and IoT / smart-tagging services for banks, fintechs, governments, and NBFCs.
Q2. Why is the company raising funds via IPO?
The company has filed to raise ₹400 crore as fresh issue to fund capital expenditures — buying and setting up new/used machinery for it’s manufacturing and personalization facilities, and to support general corporate purposes.
Q3. What is the size of the issue and where will it list?
The IPO size if for ₹400 crore as fresh issue, plus an offer-for-sale (OFS) of up to 1.75 crore equity shares by promoter Manipal Technologies. And it will be listed on the BSE and NSE platform.
Q4. What are the risks to an investor?
Key risks include operational challenges like completing capex, foreign-exchange exposure, cost competitiveness and regulatory risks associated with high-security printing.
Q5. What are the potential upsides?
Manipal Payments has a strong market share in card manufacturing (~36% in credit cards, ~31% in debit cards in FY 2025), scalable growth opportunity with increased capacity, and strategic role in government identity/card issuance and IoT tagging.
Q6. How to apply for the IPO?
Via your brokerage/demat account when the IPO opens.
Q 7. When is the tentative listing date?
Expected listing date is yet to be announced but we can expect this in Dec’25.
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For further information you can visit official website of Manipal Payment.