Manipal Payment IPO vs Rentomojo IPO: Two IPOs Open Tomorrow; Check GMP, Financials, Price Band & More

The IPO market is going to see two mainboard issues, Manipal Payment & Identity Solutions IPO and Rentomojo IPO which are opening for subscription on the same day, September 9th.

Both public issues will open until September 11th so investors can compare & choose between the two.

While Manipal Payment & Identity Solutions is an established player in payment cards, identification solutions and secure logistics, Rentomojo operates a consumer-focused furniture and appliance rental platform. Here's a detailed comparison between both the IPOs.

Manipal Payment & Identity Solutions vs Rentomojo IPO

Manipal Payment & Identity Solutions has fixed its IPO price band at Rs. 322 to Rs. 339 per share, while Rentomojo has set its price band at Rs. 384 to Rs. 404 per share.

The minimum investment is broadly similar. Investors applying for one lot of Manipal Payment & Identity Solutions will have to bid for 44 shares, requiring a minimum investment of Rs. 14,916 at the upper price band.

Rentomojo's lot size is 37 shares, meaning retail investors will need a minimum of Rs. 14,948 for one lot at the upper price band.

Manipal Payment & Identity Solutions IPO

Manipal Payment & Identity Solutions is primarily engaged in payment cards, identification cards, secure logistics and IoT/smart-tagging solutions.

The company is looking to raise Rs. 805 crore through the IPO. The issue consists of a fresh issue of Rs. 320 crore and an offer for sale of around 1.43 crore shares worth Rs. 485 crore.

Manipal Payment Financial Performance

The company generated revenue of Rs. 1,356.59 crore in FY26, compared with Rs. 1,277.11 crore in FY25, representing growth of around 6%. However, profitability declined during the period. Profit after tax fell to Rs. 253.46 crore in FY26 from Rs. 282.21 crore in FY25, a decline of around 10%.

Rentomojo IPO

Rentomojo operates a furniture and appliance rental platform catering primarily to urban consumers. The company's revenue increased 45% year-on-year and PAT rose 142% in FY26, according to the figures provided.

The Rentomojo IPO is substantially larger at Rs. 1,255.57 crore. However, only Rs. 150 crore of the issue is a fresh issue, while the remaining Rs. 1,105.57 crore is an OFS.

Rentomojo IPO GMP Today

As of September 8, Rentomojo IPO GMP was reported at around Rs. 115, representing a premium of approximately 28% over the upper price band of Rs. 404.

However, investors should remember that IPO GMP is unofficial and can change quickly. It should not be treated as a guaranteed listing gain or a substitute for analysing the company's fundamentals.