Manipal Payment IPO
UpcomingMainboardOpens 9 September 2026Closes 11 September 2026
Formerly known as MCT Cards & Technology Limited, Manipal Payment and Identity Solutions Limited is India's largest banking and smart card manufacturer. The company provides comprehensive card services, spanning design,…
Formerly known as MCT Cards & Technology Limited, Manipal Payment and Identity Solutions Limited is India's largest banking and smart card manufacturer. The company provides comprehensive card services, spanning design, manufacturing, personalization, and delivery for public and private sector banks, fintech companies, and government departments. Beyond India, its operations extend globally across the UK, Europe, Asia-Pacific, and MEA regions, supported by 10 advanced facilities housing 19 production units across 11 cities. The company has further diversified its portfolio through strategic acquisitions to include variable data printing, cheque printing, smart tagging, IoT solutions, and anti-counterfeiting security products.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
9 Sept
IPO Closes
11 Sept
Allotment
15 Sept
Listing
17 Sept
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 9 September 2026 |
| IPO Close Date | 11 September 2026 |
| Allotment Date | 15 September 2026 |
| Listing Date | 17 September 2026 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,916 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,93,908 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,08,824 |
SHNI (Max)Below ₹10,00,000 | 67 | ₹9,99,372 |
BHNIAbove ₹10,00,000 | 68 | ₹10,14,288 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 75.00% |
| NII (Non-Institutional Investor) | 15.00% |
| SHNI (Small Non-Institutional Investor) | 5.00% |
| BHNI (Big Non-Institutional Investor) | 10.00% |
| Retail | 10.00% |
| Total | 100.00% |
IPO Objectives
- Capital Expenditure on Equipment towards purchasing and setting up new and second-hand equipment at various facilities (₹238.43 Cr).
- General Corporate Purposes.
Strengths
- India's largest banking and smart card manufacturer with comprehensive end-to-end in-house capabilities.
- Diversified revenue base encompassing smart tagging, IoT solutions, security printing, and government ID projects.
- Expansive global footprint with exports addressing markets in the UK, Singapore, South Africa, UAE, and Europe.
- High operational scale supported by 10 advanced facilities located strategically across 11 cities.
Weaknesses
- High customer concentration, with the top 10 customers accounting for 58.67% of the revenue from operations in FY26.
- Significant dependence on the top 10 suppliers, who contributed 56.05% to total purchases in FY26, creating supply chain vulnerability.
- Exposure to foreign exchange risk and import dependence, as imported raw materials formed 49.56% of total purchases in FY26.
- Regulatory and technological obsolescence risks tied to the rapid consumer shift towards digital and contactless payments.
Financial Performance
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets (₹ Cr.) | 1,160.9 | 1,409.67 | 1,102.71 |
| Revenue (₹ Cr.) | 1,326.75 | 1,256.07 | 1,247.52 |
| PAT (₹ Cr.) | 253.46 | 282.21 | 249.17 |
| Net Worth (₹ Cr.) | 791.9 | 304.25 | 89.61 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Manipal Payment Solutions | 6.94 | 31.02 | 22.93% | 791.9 |
| Seshaasai Technologies Limited | 4.39 | 23.77 | 16.83% | 86.15 |
Subscription Details
No daily bids available.
No subscription statistics available.
Company Details
- Manipal Payment and Identity Solutions Limited
- Udayavani Building, Press Corner, Manipal 576 104, Karnataka, India
- +91 820 2205 000
- investor.relations@mpimanipal.com
- https://mpimanipal.com/
Registrar Details
- MUFG Intime India Private Limited
- +91 810 811 4949
- manipalpayment.ipo@in.mpms.mufg.com
- https://in.mpms.mufg.com/
Frequently Asked Questions
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Manipal Payment IPO News & Updates
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Manipal Payment IPO IPO Pages
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Manipal Payment IPO Details
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Manipal Payment IPO GMP
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Manipal Payment IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Manipal Payment IPO Allotment
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Manipal Payment IPO Review
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Manipal Payment IPO FAQ
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Manipal Payment IPO Registrar
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Manipal Payment IPO Timeline
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Manipal Payment IPO News
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Sources
We match Manipal Payment IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- MUFG Intime India Private LimitedOfficial site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.