Manipal Payment and Identity Solutions IPO Listing: Shares Debut at 2.65% Discount on NSE
- September 17, 2026
- Posted by: Harsh Piplani
- Category: News
Manipal Payment and Identity Solutions lists at Rs 330 on NSE, down 2.65%. BSE opens at Rs 332, down 2.06%. Issue price Rs 339. Subscribed 1.42 times overall. Issue size Rs 805 Cr.
Quick Answer
The Manipal Payment IPO listing today saw the stock debut at Rs 330 on the NSE, a 2.65 percent discount to its Rs 339 issue price, while BSE shares opened at Rs 332, a 2.06 percent discount. This Manipal Payment IPO listing update covers subscription numbers, IPO details, and financials in full below. The mainboard payment card and identity solutions issue, also known as Manipal Cards, was subscribed just 1.42 times overall, the weakest of the six mainboard IPOs listing the same day.
Manipal Payment and Identity Solutions IPO Listing Today: The Manipal Payment and Identity Solutions IPO was subscribed 1.42 times overall by the time bidding closed on 11 September 2026. Within that demand, retail investors bid for 2.19 times their reserved portion, qualified institutional buyers (QIBs) put in 1.26 times their quota, and non institutional investors (NIIs) subscribed 1.22 times the shares set aside for them. Before looking at how the stock performed on debut, here is a recap of the Manipal Payment and Identity Solutions IPO itself, followed by the full Manipal Payment and Identity Solutions IPO listing details and the Manipal Payment and Identity Solutions IPO listing price movement on day one.
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Manipal Payment and Identity Solutions IPO Listing: Issue Details
Manipal Payment and Identity Solutions Limited, popularly known as Manipal Cards, raised its capital through a book building issue worth Rs 805 crore, made up of a fresh issue of shares worth Rs 320 crore and an offer for sale of about Rs 485 crore by promoter Manipal Technologies Limited. The issue listed on both the NSE and the BSE, with a tentative listing date of 17 September 2026. Bidding ran from 9 September 2026 to 11 September 2026, at a face value of Rs 2 per share and a price band of Rs 322 to Rs 339 per share. Anyone tracking the Manipal Payment and Identity Solutions IPO listing today will find the full set of dates and terms in the table below.
| Particular | Detail |
|---|---|
| Allotment Date | 15 September 2026 |
| IPO Open Date | 9 September 2026 |
| IPO Close Date | 11 September 2026 |
| Refund Initiation | 16 September 2026 |
| Issue Size | Rs 805 crore (2,37,46,313 shares) |
| Face Value | Rs 2 per share |
| Lot Size | 44 shares |
| Issue Price | Rs 339 per share |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE, BSE |
| Listing Date | 17 September 2026 |
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Manipal Payment and Identity Solutions IPO Listing Price and Performance
On its listing day, Manipal Payment and Identity Solutions shares opened at Rs 330 apiece on the NSE, a 2.65 percent discount to the Rs 339 issue price. On the BSE, the stock opened at Rs 332, a 2.06 percent discount. The Manipal Payment and Identity Solutions IPO listing was largely in line with what grey market indicators had suggested ahead of the debut, and was the weakest performer among the batch of six mainboard IPOs listing the same day. Coverage of the Manipal Payment and Identity Solutions IPO listing has focused on this muted debut relative to its five mainboard peers. For investors who missed allotment, the Manipal Payment and Identity Solutions IPO listing price now serves as the reference point for deciding whether to buy the stock on the exchanges.
About the Manipal Payment IPO
Manipal Payment and Identity Solutions Limited, formerly known as MCT Cards and Technology Limited and incorporated in 2008, is India’s largest payment card manufacturer and among the largest globally, providing payment solutions, identification solutions, secure document solutions, and smart tagging and Internet of Things solutions to banks, fintech companies, NBFCs, and governments. The company counts marquee banking clients including State Bank of India, HDFC Bank, ICICI Bank, and Axis Bank among its customers, and exports to markets including the United Kingdom, Singapore, and Bahrain. Promoters of the company are Tonse Gautham Pai, T. Satish U. Pai, Sandhya S. Pai, and Manipal Technologies Limited, among other Manipal group entities. Motilal Oswal Investment Advisors was the lead book running lead manager, alongside Axis Capital, ICICI Securities, IIFL Capital Services, and Nuvama Wealth Management, with MUFG Intime India as registrar. Investors who followed the Manipal Payment and Identity Solutions IPO listing today can use this background to judge the strength of the underlying business behind the debut. The details above round out the full picture of the Manipal Payment and Identity Solutions IPO listing for readers who applied in the offer.
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Manipal Payment and Identity Solutions Limited Financials
A look at Manipal Payment and Identity Solutions Limited’s recent financial performance helps put the Manipal Payment and Identity Solutions IPO listing in context for anyone tracking the Manipal Payment and Identity Solutions IPO listing performance after its debut.
| Year Ended | 31 Mar 2026 (Rs cr.) | 31 Mar 2025 (Rs cr.) | 31 Mar 2024 (Rs cr.) |
|---|---|---|---|
| Revenue | 1,326.75 | 1,256.07 | 1,247.52 |
| Profit After Tax | 253.46 | 282.21 | 249.17 |
| EBITDA | 455.83 | 408.77 | 355.56 |
Explanation
Manipal Payment and Identity Solutions Limited’s revenue rose a modest 6 percent, from Rs 1,256.07 crore in the year ended 31 March 2025 to Rs 1,326.75 crore in the year ended 31 March 2026, while EBITDA improved from Rs 408.77 crore to Rs 455.83 crore, with the EBITDA margin expanding to 33.60 percent. However, profit after tax actually declined about 10 percent over the same period, falling from Rs 282.21 crore to Rs 253.46 crore, partly because the FY25 figure had been lifted by exceptional gains. This gap between improving operating margins and a falling bottom line is one of the factors investors are weighing after the Manipal Payment and Identity Solutions IPO listing.
Grey market premium (GMP) is an unofficial, unregulated indicator for the Manipal Payment and Identity Solutions IPO that is not endorsed by SEBI, NSE, or BSE. Investors looking for indicative GMP data around the Manipal Payment and Identity Solutions IPO listing can go through other relevant sources, though such figures should never be the sole basis for an investment decision.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs
What was the Manipal Payment and Identity Solutions IPO listing price?
Ans. Manipal Payment and Identity Solutions shares listed at Rs 330 on the NSE, a 2.65 percent discount to the Rs 339 issue price, and opened at Rs 332 on the BSE, a 2.06 percent discount.
Was the Manipal Payment and Identity Solutions IPO listing a premium or a discount?
Ans. It was a discount listing on both exchanges. Shares fell around 2 to 2.65 percent against the issue price, broadly in line with what grey market indicators had suggested ahead of the debut.
How much was the Manipal Payment IPO subscribed?
Ans. The IPO was subscribed 1.42 times overall, with retail investors at 2.19 times, QIBs at 1.26 times, and NIIs at 1.22 times their respective quotas.
What is the issue price of the Manipal Payment IPO?
Ans. The issue price was fixed at Rs 339 per share, at the upper end of the Rs 322 to Rs 339 price band.
What is the lot size of the Manipal Payment IPO?
Ans. The lot size was 44 shares, translating to a minimum retail investment of about Rs 14,916 at the upper price band.
Who is the registrar for the Manipal Payment IPO?
Ans. MUFG Intime India Private Limited is the registrar for the Manipal Payment IPO.
What does Manipal Payment and Identity Solutions do?
Ans. Manipal Payment and Identity Solutions, also known as Manipal Cards, is India’s largest payment card manufacturer, providing payment, identification, secure document, and smart tagging solutions to banks, fintechs, NBFCs, and governments.
Where can I track the Manipal Payment and Identity Solutions IPO listing performance?
Ans. Investors can track the Manipal Payment and Identity Solutions IPO listing performance and live share price movement on the NSE and BSE, or through the Univest platform.
Should I hold shares after the Manipal Payment and Identity Solutions IPO listing?
Ans. That depends on individual risk appetite and investment horizon. Investors should review the Manipal Payment and Identity Solutions IPO listing performance alongside the company’s financials, including its FY26 profit decline, before deciding whether to hold or exit.
