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Manipal Payment & Identity Solutions IPO subscribed 17% on day 2
The IPO price band is set at ₹322 to ₹339 per share, valuing the fresh issue at ₹320 crore and the promoter’s offer for sale at up to 1.43 crore shares.
Manipal Payment and Identity Solutions’ IPO entered its second day of bidding on September 10, with the issue subscribed over 17% so far, according to LiveMint Markets.
The ₹805 crore IPO opened on September 9 and will close on September 11. The company set the IPO price band at ₹322–₹339 per equity share, and the offer includes a fresh issue worth ₹320 crore plus an Offer for Sale of up to 1.43 crore shares valued at ₹485 crore by promoter Manipal Technologies.
Investor participation on day 1 showed stronger retail demand, with the retail portion subscribed 0.73 times. Non-Institutional Investors were subscribed 0.18 times, while the Qualified Institutional Buyers portion remained unsubscribed at 0.00 times as of Day 1.
The GMP for Manipal Payment and Identity Solutions stood at ₹8 as of September 10. With the upper price band at ₹339, the issue is estimated to list around ₹347, implying a gain of 2.36% per share, while SBI Securities assigned the IPO a neutral rating and valued it at 30.7x FY26 post-issue P/E.