Bidding closedMainboardFinance - OthersMPIMANIPAL

Manipal Payment & Identity Solutions IPO

Manipal Payment & Identity Solutions IPO is a mainboard IPO raising ₹805 Cr at ₹322 – ₹339 a share. The smallest application you can make is 44 shares, costing ₹14,916 at the top of the band. Bidding has closed; the shares list on 17 Sept 2026. So far it has been subscribed 1.42× in total.

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₹322 – ₹339

Price band

₹14,916

Minimum to apply (44 shares)

₹805 Cr

Issue size

11 Sept 2026

Bidding closes

1.42×Subscribed · all exchanges

Just covered — bids slightly exceed the shares on offer

populated partly populated we hold nothing here — the tab says why

Who bid for it

Investor category	Shares offered	Shares bid for	Subscribed
QIB Banks, funds and other large institutions	71,23,895	89,64,164	1.26×
Foreign Institutional Investors	no separate quota	18,84,960	n/a
Domestic Financial Institutions	no separate quota	0	n/a
Mutual funds	no separate quota	60,17,528	n/a
Others	no separate quota	10,61,676	n/a
Non-institutional Wealthy individuals and companies bidding above ₹2 lakh	35,61,946	43,46,144	1.22×
Non Institutional Investors	23,74,631	29,40,828	1.24×
Corporates	no separate quota	10,86,976	n/a
Individuals	no separate quota	17,81,120	n/a
Others	no separate quota	72,732	n/a
Non Institutional Investors	11,87,315	14,05,316	1.18×
Corporates	no separate quota	16,940	n/a
Individuals	no separate quota	13,48,512	n/a
Others	no separate quota	39,864	n/a
Retail Ordinary investors bidding up to ₹2 lakh	23,74,631	52,02,208	2.19×
Cut Off	no separate quota	45,74,724	n/a
Price bids	no separate quota	6,27,484	n/a
Total	1,30,60,472	1,85,12,516	1.42×

Sub-categories read no separate quota rather than a dash: the exchange publishes bids at that level but never a reservation against them, so a subscription multiple does not exist — it is not missing data. Bids across both exchanges (NSE and BSE) — the figure usually quoted publicly. Last updated 11 Sept, 05:15 pm IST.

Where the bids landed

Demand falls about 39% from the bottom of the band to the top. 25% of the book was bid at cut-off — investors who accept whatever price is set.

₹3221.85 Cr

₹3231.85 Cr

₹3241.85 Cr

₹3251.85 Cr

₹3261.85 Cr

₹3271.85 Cr

₹3281.85 Cr

₹3291.85 Cr

₹3301.85 Cr

₹3311.85 Cr

₹3321.85 Cr

₹3331.85 Cr

₹3341.14 Cr

₹3351.85 Cr

₹3361.85 Cr

₹3371.85 Cr

₹3381.85 Cr

₹3391.85 Cr

Cut-off45.81 L

Cumulative shares bid for at each price, across both exchanges. “Cut-off” means the investor accepts whatever final price is set — mostly small retail applications. A band where demand barely changes between the low and high price tells you bidders were not price-sensitive.

How demand built

Our own series — the exchanges publish a running total and never a history.25 readings held.

9 Sept, 10:22 am0.00×

9 Sept, 12:14 pm0.09×

9 Sept, 01:28 pm0.12×

9 Sept, 02:28 pm0.14×

9 Sept, 03:28 pm0.15×

9 Sept, 04:28 pm0.17×

9 Sept, 05:28 pm0.20×

9 Sept, 06:28 pm0.13×

10 Sept, 10:15 am0.22×

10 Sept, 11:15 am0.25×

10 Sept, 12:15 pm0.28×

10 Sept, 01:15 pm0.29×

10 Sept, 02:15 pm0.30×

10 Sept, 03:15 pm0.33×

10 Sept, 04:15 pm0.34×

10 Sept, 05:15 pm0.37×

10 Sept, 06:15 pm0.25×

11 Sept, 10:15 am0.38×

11 Sept, 11:15 am0.45×

11 Sept, 12:15 pm0.50×

11 Sept, 01:15 pm0.92×

11 Sept, 02:15 pm1.10×

11 Sept, 03:15 pm1.52×

11 Sept, 04:15 pm1.71×

11 Sept, 05:15 pm1.72×

Institutions typically enter the book on the final day, which is why a day-one subscription figure tells you very little.