Manipal Payment Raises ₹362 Cr from Anchor Investors Ahead of IPO

Manipal Payment and Identity Solutions secured ₹362.25 crore from anchor investors before its ₹805 crore IPO. Funds will support equipment expansion. Illustration: Dominic Xavier/Rediff.com Key Points Manipal Payment raised ₹362.25 crore from anchor investors ahead of its initial public offering (IPO). The ₹805 crore IPO opens for subscription on September 9, with shares priced at ₹322-339. The company allotted 1.07 crore equity shares to 36 anchor investors at ₹339 per share. Proceeds from the fresh issue will be used to purchase new equipment for various company facilities. Manipal Payment provides payment, identification, and IoT solutions to banks, fintechs, and governments. New Delhi, Sep 8 (PTI) Manipal Payment and Identity Solutions Ltd on Tuesday raised Rs 362.25 crore from anchor investors ahead of its initial public offering (IPO), which will open for subscription on September 9. The company has allotted 1.07 equity shares to anchor investors at Rs 339 per share, the upper end of the IPO price band, according to a circular uploaded on stock exchanges. The anchor allocation comprised 36 investors, including mutual funds, insurance companies and foreign portfolio investors. Motilal Oswal Mutual Fund, Abakkus Mutual Fund, ITI Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Life Insurance Company, Sageone-Flagship Growth Fund, Sanshi Fund-I Investment Account and Alchemy Emerging Markets Fund were among the investors. Manipal Payment has set a price band of Rs 322-339 per equity share for its Rs 805-crore IPO, which will conclude on September 11. The IPO comprises a fresh issue of equity shares aggregating to Rs 320 crore, along with an offer-for-sale (OFS) of up to 1.43 crore equity shares worth Rs 485 crore by promoter Manipal Technologies. At the upper end of the price band, the total issue size stands at around Rs 805 crore, while the post-issue implied market capitalisation will be around Rs 7,858 crore. The equity shares are proposed to be listed on both BSE and NSE on September 17. Manipal Payment plans to use the proceeds from the fresh issue to purchase and install new and second-hand equipment across its various facilities in Manipal, Chennai, Navi Mumbai and Chhattisgarh RTO. The company provides payment, identification, secure solutions and smart tagging and Internet of Things (IoT) solutions to banks, fintechs, non-banking finance companies and governments across domestic and international markets. Its payment solutions include payment cards, cheque solutions, near-field communication (NFC) and quick-response (QR) codes, payment-enabled wearables and digital automation solutions. Manipal Payment had filed its draft IPO papers with Sebi in June 2025 through the confidential pre-filing route, which allows companies to keep IPO details undisclosed. Later, it filed the updated draft papers. Moneywiz Live!