Manipal Payment and Identity Solutions IPO
Manipal Payment and Identity Solutions Limited (MPIMANIPAL) · mainboard IPO on NSE and BSE · Book Building. Listed on 17 September 2026.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -0.7% (likely range -15% to +1%), day's high 0.0%, chance of a gain 33%. Actual: -2.6% at the open, +3.4% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 71,23,895 | 89,64,164 | 1.26x | |
| NII (HNI) total | 35,61,946 | 43,46,144 | 1.22x | |
| Big NII (above ₹10 lakh) | 23,74,631 | 29,40,828 | 1.24x | |
| Small NII (₹2-10 lakh) | 11,87,315 | 14,05,316 | 1.18x | |
| Retail | 23,74,631 | 52,02,296 | 2.19x | |
| Total | 1,30,60,472 | 1,85,12,604 | 1.42x |
Bids on NSE and BSE together, as published by NSE, as of 11 Sep 2026, 07:00 PM. Shares offered exclude the anchor portion. 25% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Manipal Payment and Identity Solutions's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Quality Power Electrical EquipmentsFeb 2025 | 1.03x | 1.45x | 1.83x | 1.29x | ₹859 Cr | +1.2% | +1.4% |
| Purple Style LabsSep 2026 | 1.43x | 0.84x | 1.58x | 1.29x | ₹716 Cr | -7.0% | +2.4% |
| Rail Vikas NigamApr 2019 | 1.36x | 0.80x | 2.93x | 1.83x | ₹842 Cr | 0.0% | +4.2% |
| CMS Info SystemsDec 2021 | 1.98x | 1.45x | 2.15x | 1.95x | ₹1,159 Cr | +1.9% | +20.2% |
| Prudent Corporate Advisory ServicesMay 2022 | 1.26x | 0.99x | 1.29x | 1.22x | ₹539 Cr | +3.2% | +3.2% |
| S J S EnterprisesNov 2021 | 1.42x | 2.32x | 1.38x | 1.59x | ₹817 Cr | 0.0% | +1.7% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
| Axis Capital | 107 | +20.4% | 73% |
| ICICI Securities | 109 | +21.3% | 69% |
| IIFL Capital Services | 94 | +19.3% | 71% |
| Nuvama Wealth Management | 35 | +11.9% | 66% |
Offer documents (NSE)
Frequently asked
What is the Manipal Payment and Identity Solutions IPO price band and lot size? ₹322–339 per share, with a lot of 44 shares, so the smallest retail bid is ₹14,916.
How many times has it been subscribed? 1.42x overall: QIB 1.26x, NII 1.22x, retail 2.19x.
How did it list? It opened at ₹330, -2.6% against the issue price of ₹339, and closed its first day +1.8%.
