3 hrs ago
Manipal Payment Shares Make Muted Market Debut
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.
Manipal Payment and Identity Solutions shares opened below the ₹339 IPO issue price.
The stock began at ₹332 on the BSE and ₹330 on the NSE.
The company’s ₹805-crore IPO was subscribed 1.42 times.
The offering included a ₹320-crore fresh issue and a ₹485-crore offer for sale.
Fresh-issue proceeds will fund equipment purchases and installations across four facilities.
- Who
- Manipal Payment and Identity Solutions and its investors.
- What
- The company’s shares made a weak stock-market debut, opening nearly 3% below the ₹339 IPO price.
- Where
- On the BSE and NSE in India.
- When
- Thursday, the company’s listing day.
- Why
- The IPO received modest demand, with subscription of 1.42 times, contributing to cautious investor sentiment.
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





