Manipal Payment and Identity Solutions Files Updated DRHP With SEBI for IPO

Manipal, November 11: Manipal Payment and Identity Solutions IPO is expected to launch soon as the company has announced that it has filed its updated Draft Red Herring Prospectus with the Securities and Exchange Board of India. The Manipal Payment and Identity Solutions IPO will be a combination of a fresh issue of ₹400 crore and an offer for sale of up to 1.75 crore equity shares by promoter Manipal Technologies. The company also said that it has the option to raise up to ₹80 crore in a pre-IPO round before it files for a Red Herring Prospectus with SEBI. Motilal Oswal Investment Advisors, Axis Capital, ICICI Securities, IIFL Capital Services and Nuvama Wealth Management are the book-running lead managers for the issue.

Manipal Payment and Identity Solutions (formerly MCT Cards & Technology Private Limited) is India’s largest banking and smart card manufacturer. The company was established in 2008 and is headquartered in Manipal, Karnataka.

Manipal Payment and Identity Solutions IPO: Utilisation of Proceeds

Manipal Payment and Identity Solutions has outlined that it will use ₹287.1 crore from the IPO proceeds for purchasing and setting up new and second-hand equipment across facilities in Manipal, Chennai, Noida, Navi Mumbai and at the Chhattisgarh RTO. The balance amount will be used for general corporate purposes.

Manipal Payment and Identity Solutions IPO: Shareholding and Valuation Snapshot

Currently, the promoters of Manipal Payment and Identity Solutions hold 62.65% of the company. Public shareholders such as Touchstone Capital, Think Investments, Mukul Mahavir Agrawal and Nuvama hold 37.35%. At the last reported share transfer price of ₹300.11 in June, the company’s valuation was over ₹7,000 crore.

Manipal Payment and Identity Solutions Financial Performance

For the quarter ended June 2025, the company reported a profit of ₹33.9 crore. It had revenue of ₹283.5 crore. In FY25, profit rose 13.3% to ₹282.2 crore from ₹249.2 crore, while revenue increased to ₹1,256 crore from ₹1,247.5 crore.

What’s Ahead for Manipal Payment and Identity Solutions?

Manipal Payment and Identity Solutions IPO is at its initial stage, where it has filed its Updated Draft Red Herring Prospectus with SEBI. Key information about the IPO is still awaited by investors. With strong financials, investors would hope that the IPO is rightly priced for a strong subscription and stellar listing.

REF: https://nsearchives.nseindia.com/corporate/Manipal Payment UDRHP-1.pdf

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