Manipal Payment & Identity Solutions IPO GMP History
Manipal Payment & Identity Solutions IPO has been listed on September 17, 2026 at a listing price of ₹330, against the issue price of ₹339 — a loss of ₹9 (-2.65%). The GMP peaked at ₹38 on 7 September 2026 and reached a low of ₹-10 on 15 September 2026. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Manipal Payment & Identity Solutions IPO raised ₹805 Cr. through its IPO at a price band of ₹322 to ₹339 per share, with a lot size of 44 shares. The IPO was open for subscription from 09 Sep 2026 to 11 Sep 2026.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 17 Sep, 6:31 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 17 Sep 2026 | ₹ -6 | — | -1.77% | — | — |
| 16 Sep 2026 | ₹ -6 | ▲ | -1.77% | — | — |
| 15 Sep 2026 | ₹ -10 | ▼ | -2.95% | — | — |
| 14 Sep 2026 | ₹ 1 | ▲ | 0.29% | — | — |
| 13 Sep 2026 | ₹ -2 | ▼ | -0.59% | — | — |
| 12 Sep 2026 | ₹ 1 | — | 0.29% | — | — |
| 11 Sep 2026 | ₹ 1 | ▼ | 0.29% | — | — |
| 10 Sep 2026 | ₹ 4 | ▼ | 1.18% | — | — |
| 09 Sep 2026 | ₹ 8 | ▼ | 2.36% | — | — |
| 08 Sep 2026 | ₹ 37 | ▼ | 10.91% | — | — |
| 07 Sep 2026 | ₹ 38 | ▲ | 11.21% | — | — |
| 06 Sep 2026 | ₹ 30 | — | 8.85% | — | — |
| 05 Sep 2026 | ₹ 30 | ▲ | 8.85% | — | — |
| 04 Sep 2026 | ₹ 29 | — | 8.55% | — | — |
Manipal Payment & Identity Solutions IPO dates
Key dates from opening to listing. Today is 20 October.
- Open 09 Sep 2026
- Close 11 Sep 2026
- Allotment 15 Sep 2026
- Refund/credit 16 Sep 2026
- Listing 17 Sep 2026
Manipal Payment & Identity Solutions IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹339 |
|---|---|
| GMP-based estimate (pre-listing) | ₹333 (-1.8%) |
| Listing gain / loss | −₹9 per share |
| Listing date | 17 Sep, 2026 |
| Actual listing price | ₹330 (-2.65%) |
Is Manipal Payment & Identity Solutions IPO GMP reliable?
Grey market premium for Manipal Payment & Identity Solutions IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Manipal Payment & Identity Solutions IPO full review for a fundamentals-based assessment before making any grey market trades.
Manipal Payment & Identity Solutions IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Manipal Payment & Identity Solutions IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Manipal Payment & Identity Solutions IPO
Manipal Payment & Identity Solutions Limited was started in 2008 and is part of The Manipal Group. It supplies payment products, identity documents, secure printed material and smart tagging solutions to banks, fintech companies, non-banking finance companies and governments, in India and abroad.
Its payment solutions include payment cards, cheque solutions, NFC and QR code products, payment enabled wearables and digital automation. Its identification solutions include driving licences, registration certificates, national identity cards and transit management systems. Its secure solutions cover secure logistics, personalised insurance policies, premium notices, renewal letters and marketing material, along with tamper evident envelopes, holograms and coated products. It also does smart tagging and Internet of Things work and runs a coated products business.
In FY2026 the company served more than 300 customers. Its payment card business alone served over 105 customers, including 18 private banks, 9 public sector banks, 10 small finance banks, 13 co-operative banks and 34 fintech companies. Its customers include State Bank of India, Canara Bank, Bank of India, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, Federal Bank and City Union Bank. As on 31 March 2026 it had relationships with 60 fintech companies including Airtel Payments Bank and Scapia for making co-branded credit, debit and prepaid cards.
Frequently asked
What is the GMP of Manipal Payment & Identity Solutions IPO?
The current Grey Market Premium (GMP) of Manipal Payment & Identity Solutions IPO is ₹ -6.
What is the Kostak Price of Manipal Payment & Identity Solutions IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Manipal Payment & Identity Solutions IPO is not available.
What is the Subject to Sauda Price of Manipal Payment & Identity Solutions IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Manipal Payment & Identity Solutions IPO?
Manipal Payment & Identity Solutions IPO listed on September 17, 2026 at ₹330, against the issue price of ₹339 — a loss of -2.65%.
How did the GMP of Manipal Payment & Identity Solutions IPO trend before listing?
The GMP of Manipal Payment & Identity Solutions IPO was stable in its final days before listing. The GMP peaked at ₹38 on 7 September 2026. View the day-wise table above for the complete GMP history.
Explore Manipal Payment & Identity Solutions IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
