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.