Manipal Payment & Identity Solutions IPO allotment today: GMP signals flat listing; check status on…

According to fresh market updates, The allotment of shares in Manipal Payment & Identity Solutions' Rs 805-crore initial public offering (IPO) is anticipated to be finalised today, September 15, after the offering saw a modest subscription during its three-day bidding window.

The IPO was subscribed 1.42 times by the close of bidding on September 11, according to NSE data. Market participants placed bids for 1.85 crore shares against 1.31 crore shares on offer. The retail portion was subscribed 2.19 times, while the non-institutional investor (NII) category received 1.22 times subscription.

The IPO opened on September 9 and closed on September 11, with the price range set at Rs 322-339 per share. The offering comprises a fresh offering of up to Rs 320 crore and an offer-for-sale (OFS) of up to Rs 485 crore. The shares are scheduled to list on the BSE and NSE on September 17.

Read Additionally: India's first F1 racer, built Rs 100-crore firm: How Narain Karthikeyan founded DriveX after leaving racetrack

The grey market is signalling a largely flat debut for Manipal Payment & Identity Solutions shares. According to the latest InvestorGain data, the GMP stood at around Rs 1 per share on September 15, implying an estimated stock-exchange debut price of Rs 340 against the upper offering price of Rs 339. This translates into a potential premium of roughly 0.29 percent.

GMP figures are unofficial and are based on activity in the unregulated grey market. They can fluctuate before stock-exchange debut and should not be viewed as a guarantee of the actual stock-exchange debut price or returns.

How to check Manipal Payment & Identity Solutions IPO allotment status

Market participants can check their allotment status through MUFG Intime India, the registrar to the offering, or through the BSE and NSE websites. The basis of allotment is scheduled for September 15, followed by refunds and demat credit on September 16. The stock is anticipated to list on September 17.

Manipal Payment & Identity Solutions IPO allotment status via MUFG Intime India

Step 1. Visit MUFG Intime IPO allotment status at https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Step 2. Select Manipal Payment & Identity Solutions Ltd from the firm list.

Step 3. Choose PAN, application number or DP/Client ID as the identification option.

Step 4. Enter the required details.

Step 5. Submit the form to view your allotment status.

Manipal Payment & Identity Solutions IPO allotment status via BSE

1. Visit the BSE IPO application status at https://www.bseindia.com/market participants/appli_check

2. Select Equity as the offering type.

3. Choose Manipal Payment & Identity Solutions from the offering list.

4. Enter your PAN or application number.

5. Complete the captcha and click on Search.

6. Your allotment status will be displayed once the basis of allotment is finalised.

Manipal Payment & Identity Solutions IPO allotment status via NSE

Step 1. Visit the NSE IPO bid verification page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Step 2. Select Equity & SME IPO bid details.

Step 3. Choose MPIMANIPAL from the symbol dropdown.

Step 4. Enter your PAN or application number.

Step 5. Submit the details to check the bid and allotment information.

The Rs 805-crore offering consists of a fresh offering of Rs 320 crore and an OFS of Rs 485 crore by promoter Manipal Technologies. The price range was set at Rs 322-339 per share, while the minimum lot size was 44 shares.

At the upper price range, retail market participants needed to invest Rs 14,916 for one lot.

Ahead of the public offering, the firm boosted Rs 362.25 crore from anchor market participants on September 8. It allotted 1,06,85,841 shares to anchor market participants at Rs 339 apiece.

The anchor book included domestic mutual fund schemes as well as institutional market participants. Motilal Oswal AMC, Baroda BNP Paribas Mutual Fund, ITI Mutual Fund and Groww Mutual Fund collectively accounted for a sizeable portion of the domestic mutual fund allocation.

Manipal Payment & Identity Solutions plans to deploy around Rs 238.4 crore from the fresh offering towards the purchase and installation of new and second-hand equipment.

The scheduled expenditure covers its card manufacturing facility, personalisation bureau and cheque printing facility, central card processing centres, and Smart Tagging and IoT Solutions facility. The remaining fresh offering proceeds will be used for general corporate purposes.

Incorporated in 2008, Manipal Payment & Identity Solutions is part of the Manipal Group and provides payment, identification, secure solutions, smart tagging and IoT services.

Its customers include banks, fintech firms, non-banking financial firms and government entities across India and international markets. The firm's portfolio includes payment cards, identity cards, cheque solutions, smart tagging and related secure-printing and technology solutions.

Motilal Oswal Investment Advisors, Axis Capital, ICICI Securities, IIFL Capital Services and Nuvama Wealth Management are the book-running lead managers, while MUFG Intime India Private Limited is the registrar to the offering.