Manipal Payment and Identity Solutions IPO
IPO details from SEBI DRHP filings
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- The business depends heavily on a limited number of suppliers for raw materials.
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Subscription
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About Manipal Payment and Identity Solutions
Manipal Payment and Identity Solutions Limited provides payment, identification, secure printing, smart tagging and Internet of Things (IoT) solutions to banks, fintech companies, non-banking finance companies, and government agencies in India and overseas. Its payment solutions include payment cards, cheque solutions, QR and near-field communication-enabled products, payment wearables, and digital automation solutions. The company also offers identification products such as driving licences, registration certificates, national identity cards, and voter identity cards, along with transit management solutions. Its secure solutions business includes secure logistics, insurance policy personalisation, marketing collaterals, tamper-evident packaging, holograms, and coated products. In the smart tagging and IoT segment, the company provides excise labels with encrypted QR codes, RFID-based tracking solutions, and anti-counterfeiting products. Revenue is generated through the sale of products and related personalisation and printing services across these business segments. 
Company Details
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FAQ
What is the price band of Manipal Payment and Identity Solutions IPO?
The price band for Manipal Payment and Identity Solutions IPO has not been announced yet. It is published in the RHP shortly before the issue opens.
What does Manipal Payment and Identity Solutions do?
Manipal Payment and Identity Solutions Limited provides payment, identification, secure printing, smart tagging and Internet of Things (IoT) solutions to banks, fintech companies, non-banking finance companies, and government agencies in India and overseas. Its payment solutions include payment cards, cheque solutions, QR and near-field communication-enabled products, payment wearables, and digital automation solutions. The company also offers identification products such as driving licences, registration certificates, national identity cards, and voter identity cards, along with transit management solutions. Its secure solutions business includes secure logistics, insurance policy personalisation, marketing collaterals, tamper-evident packaging, holograms, and coated products. In the smart tagging and IoT segment, the company provides excise labels with encrypted QR codes, RFID-based tracking solutions, and anti-counterfeiting products. Revenue is generated through the sale of products and related personalisation and printing services across these business segments. 
Should I apply for Manipal Payment and Identity Solutions IPO?
Manipal Payment and Identity Solutions is a mainboard IPO with a ₹ price band ( issue) — subscription data is not live yet, so demand signals are unavailable. For a mainboard IPO at elevated risk (7/10), weigh DRHP financials and sector comps against the ₹ band before you apply.