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