The history of Maniyar Math is shrouded in some mystery, with varying interpretations of its purpose. While some believe it to be a Jain stupa dating back to the 1st or 2nd century CE, others suggest it might have been a Hindu temple, possibly dedicated to the Naga deity, Maninaga. Archaeological findings at the site include terracotta figurines, pottery, and other artifacts that indicate a long period of use and multiple phases of construction. The site's association with both Jainism and Hinduism highlights the religious diversity of ancient Rajgir. The exact details of its origin and purpose remain a subject of scholarly debate.