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Manipal Payment Shares Make Muted Market Debut

Manipal Payment Shares Make Muted Market Debut
Weak Start For Manipal Payment On Listing Day, Shares Fall Nearly 3% In Debut Trade · freepressjournal.in

Manipal Payment and Identity Solutions sold shares to the public through an IPO.

When the shares began trading, they were worth less than the IPO price of ₹339.

They opened at ₹332 on the BSE and ₹330 on the NSE.

This means the shares fell by about 2% to 3% at the start.

The company’s IPO was subscribed 1.42 times, meaning investors applied for more shares than were available.

Before the IPO, anchor investors provided ₹362.25 crore.

The company plans to use some new money to buy and install equipment.

It provides payment, identification, secure technology, smart-tagging and IoT services to businesses and governments.

Key facts

IPO size
₹805 crore
Issue price
₹339 per share
BSE opening
₹332, down 2%
NSE opening
₹330, down 2.65%
IPO subscription
1.42 times
Anchor investment
₹362.25 crore
Post-listing market capitalisation
₹7,431.65 crore
Fresh-issue use
Purchase and installation of new and second-hand equipment

Sources

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