1-phosphatidyl-1D-myo-inositol + a (4R)-4-hydroxy-N-[(2R)-2-hydroxy-very-long-chain-acyl]-1-O-{[6-O-(alpha-D-mannosyl)-1D-myo-inositol-1-O-yl]hydroxyphosphoryl}sphinganine = 1,2-diacyl-sn-glycerol + a (4R)-4-hydroxy-N-[(2R)-2-hydroxy-very-long-chain-acyl]-1-O-[(6-O-{6-O-[(1D-myo-inositol-1-O-yl)hydroxyphosphoryl]-alpha-D-mannosyl}-1D-myo-inositol-1-O-yl)hydroxyphosphoryl]sphinganine
This enzyme catalyses the ultimate reaction in the yeast sphingolipid biosynthesis pathway. It transfers a second phosphoinositol group to mannosyl-inositol-phospho-alpha-hydroxyphytoceramide (MIPC), forming the final and most abundant yeast sphingolipid, mannosyl-diphosphoinositol-ceramide (MIP2C).