Manipal Payment opens ₹805 crore IPO as six mainboard issues hit market
Payment-card manufacturer Manipal Payment and Identity Solutions has opened its IPO, comprising a ₹320 crore fresh issue and a promoter offer for sale worth about ₹485 crore. Globe Capital has cited its valuation and card-issuance position among reasons for preference.
What happened
Six mainboard IPOs opened in India. Globe Capital preferred Manipal Payment and Identity Solutions, a major Indian payment-card manufacturer, citing reasonable
Key facts
- Manipal Payment fresh issue: Rs 320 crore
- Manipal Payment OFS: 1.43 crore shares worth Rs 485 crore
- Manipal Payment FY26 profit: Rs 253.5 crore, down 10.2%
- Manipal Payment FY26 revenue: Rs 1,326.8 crore, up 5.6%
- Manipal Payment estimated FY26 credit-card issuance share: 36.4%
- Manipal Payment estimated FY26 debit-card share: 30.9%
- Karamtara Engineering total IPO size: Rs 875 crore
- Karamtara Engineering fresh issue: Rs 675 crore
- Karamtara Engineering OFS: Rs 200 crore
Why this matters
The public listing could give Manipal Payment additional capital and market currency to pursue partnerships or acquisitions across payment cards, identity solutions and financial-services infrastructure.