BSE List Price : ₹332.00

NSE List Price : ₹330.00

subscription

Category	Times
QIBs	1.26x
HNIs	1.22x
Retail	2.19x
Total : 1.42x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	1	44	₹14,916
Retail Maximum	13	572	₹193,908
S-HNI Minimum	14	616	₹208,824
S-HNI Maximum	67	2,948	₹999,372
B-HNI Minimum	68	2,992	₹1,014,288

About the Company

Incorporated on February 19, 2008, Manipal Payment and Identity Solutions Ltd. (MPISL) is one of India’s prominent manufacturers of banking and smart card products. The company provides payment solutions, identification solutions, secure solutions, and smart tagging and Internet of Things (IoT) solutions to banks, fintech companies, non-banking financial companies, and government organisations across India and international markets.

Its payment solutions portfolio includes payment cards, cheque services, NFC and QR code-based payment solutions, payment-enabled wearables, and digital automation solutions. Based on the shipment of magstripe payment cards, Manipal Payment ranks among the leading companies in India and is ranked 14th globally. In addition to its presence in India, the company has expanded its operations across the United Kingdom, Europe, Asia-Pacific, and the Middle East and Africa (MEA) regions. The company operates through 10 facilities and 19 production units across 11 cities.

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2024	₹1267.97	₹967.63	₹249.17	₹1102.71
2025	₹1277.11	₹1032.65	₹282.21	₹1409.67
2026	₹1356.59	₹1004.93	₹253.46	₹1160.90

Company Promoter

Tonse Gautham Pai

T. Satish U. Pai

Sandhya S. Pai

Manipal Technologies Limited

Manipal Media Network Limited

Tridevitha Consultancy Services Private Limited

Tridevita Family Trust 2017

Know before investing

• • Strengths

  Leading Payment Card Manufacturer: The company is among the leading payment card manufacturers in India and is also one of the major payment card manufacturers globally. Its capabilities extend across the entire card manufacturing and delivery value chain.

  Expansive and Innovative Product Portfolio: The company has a broad and innovation-driven product portfolio, offering comprehensive card-related solutions. Its services encompass card creation, design, manufacturing, personalisation, and delivery.

• • Risks

  Customer Concentration Risk: The company’s top 10 customers contributed 69.22%, 60.98%, 62.51%, and 69.94% of revenue from operations for the three months ended June 30, 2025 and Fiscals 2025, 2024, and 2023, respectively. The loss of key customers or any decline in revenue generated from them could adversely impact the company’s business and financial performance.

  Dependence on Card Manufacturing: A substantial portion of the company’s revenue is derived from the sale of cards manufactured by it. Any unfavourable developments in this business segment could negatively affect the company’s business, results of operations, financial condition, and cash flows.

Objects of the Issue & Utilisation of proceeds

Capital Expenditure on Equipment.

General Corporate Purpose.

Company  Address

Manipal Payment & Identity Solutions Limited.
Udayavani Building, Press Corner
Manipal 576 104, Karnataka, India
Dattatri Manjunatha Hardur, Company
Secretary and Compliance Officer
Phone: +91 820 2205 000
Email: investor.relations@mpimanipal.com
Website: https://mpimanipal.com/

IPO Registrar

MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: manipalpayment.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html