Manipal Payment IPO price band fixed at Rs 322-339; issue to open on Sep 9

Manipal Payment and Identity Solutions Ltd has announced a price band of Rs 322-339 per equity share for its Rs 805-crore Initial Public Offering (IPO). The IPO will open for public subscription on September 9 and will comprise 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, with a post-issue implied market capitalisation of approximately Rs 7,858 crore. The IPO will close on September 11, with bidding for anchor investors opening on September 8. The proceeds from the fresh issue will be used to purchase and install new and second-hand equipment across Manipal Payment's facilities in Manipal, Chennai, Navi Mumbai, and Chhattisgarh RTO.

Manipal Payment provides a range of 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.

Brief written by urgent.news from YourStory's own syndicated text. Machine-written — may contain errors; check the original before relying on it.