Manipal Payment shares stumble in debut, open below IPO valuation

Manipal Payment Solutions made a muted market debut on Tuesday, with shares opening below their initial public offering price on both major Indian stock exchanges. On the National Stock Exchange, the company's shares listed at ₹330, representing a discount of 2.6 per cent to the IPO price. The BSE saw a comparatively smaller loss, with shares opening at ₹332, a 2.06 per cent markdown from the offer price. The lackluster listing reflects broader market sentiment towards fintech and payment processing firms, which have faced headwinds in recent months amid macroeconomic uncertainties and regulatory scrutiny of the digital payments sector. Manipal Payment Solutions is a digital payments infrastructure provider serving merchants and financial institutions across India. The company's weak opening contrasts with several successful IPOs earlier this year, signalling investor caution in the segment. Trading volumes and subsequent price movements will provide clearer insights into the stock's trajectory in coming sessions.