2 hrs ago
Manipal Payment Sets ₹805-Crore IPO Price Band, Dates
Manipal Payment and Identity Solutions is planning to sell shares to the public.
This sale is called an initial public offering, or IPO.
Each share will cost between ₹322 and ₹339.
People can apply for shares from September 9 to September 11.
The company plans to raise ₹320 crore by issuing new shares.
Its promoter, Manipal Technologies, will also sell some existing shares.
The company will use its new money to buy and install equipment at several facilities.
Its shares are expected to begin trading on the BSE and NSE on September 17.
Manipal Payment and Identity Solutions set its IPO price band at ₹322–339 per share.
The ₹805-crore issue will open on September 9 and close on September 11.
The offering includes a ₹320-crore fresh issue and an offer for sale of up to 1.43 crore shares.
Fresh-issue proceeds will fund new and second-hand equipment at facilities in Manipal, Chennai, Navi Mumbai and Chhattisgarh.
The company’s shares are scheduled to list on the BSE and NSE on September 17.
- Who
- Manipal Payment and Identity Solutions, with Manipal Technologies selling shares as the promoter.
- What
- An ₹805-crore initial public offering priced at ₹322–339 per share.
- Where
- The company operates facilities in Manipal, Chennai, Navi Mumbai and Chhattisgarh, while its shares are scheduled to list on the BSE and NSE.
- When
- Anchor bidding begins September 8; public subscription runs September 9–11; listing is scheduled for September 17.
- Why
- The company plans to use fresh-issue proceeds to purchase and install new and second-hand equipment.
Key facts
- IPO size
- ₹805 crore
- Price band
- ₹322–339 per equity share
- Subscription period
- September 9–11
- Fresh issue
- ₹320 crore
- Offer for sale
- Up to 1.43 crore shares, valued at approximately ₹485 crore
- Estimated post-issue market capitalisation
- Around ₹7,858 crore at the upper price-band limit
- Planned listing
- BSE and NSE on September 17
Sources
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