desk
Share
News Topical, Digital Desk : Pine Labs IPO Day 3: The initial public offering (IPO) of fintech giant Pine Labs, which opened on November 7, is trading with a weak response on the third and final day as well.
As of 11 a.m. on Tuesday, November 11, the IPO had received only 0.57 times the subscription of the total shares offered. According to NSE data, bids were received for only 55.5 million shares out of a total of 97.8 million shares.
The strongest demand came from retail investors, who subscribed 0.98 times their reserved portion. Qualified institutional buyers (QIBs) bid 0.64 times. Non-institutional investors (NIIs) have been very weak, having bid only 0.14 times the amount so far. Pine Labs has raised ₹1,753 crore from anchor investors. A day before the IPO opened, the company raised ₹1,753 crore from over 70 anchor investors. Prominent names on this list include:
- SBI MF
- Nomura
- Templeton MF
- Aditya Birla Sun Life MF
- Mirae Asset MF
- WITH
- HSBC
- ICICI Prudential Life Insurance
- Tata MF
- BNP Paribas
- Axis My Life
- Bandhan MF
- Edelweiss MF
- Morgan Stanley
- Motilal Oswal
- Susquehanna Pacific
- Bharti Axa
- Reliance General Insurance
Pine Labs IPO Full Details
The IPO, totaling ₹3,899 crore, includes: A fresh issue of ₹2,080 crore. An Offer for Sale (OFS) of ₹1,819.9 crore. Investors can bid for a lot of 67 shares, with a minimum investment of ₹14,807. At the upper price band of the IPO, the company's valuation could exceed ₹25,300 crore. The prevailing Grey Market Premium (GMP) in the unlisted market is ₹12 per share. It's worth noting that the GMP is only an estimate; the listing price may differ. The proceeds from the fresh issue will be used to invest in the
- Technical detail
- Debt Payment
- International expansion
- Existing investors will get partial exit through OFS.
Overview of Pine Labs Company
Pine Labs is a tech-driven payments and merchant commerce platform. The company provides services like digital payments, billing integration, loyalty and rewards management, EMI/affordability options for consumers, store digitization, dynamic currency conversion, etc.
By June 2025, Pine Labs' network - 9.8 lakh merchants, 716 consumer brands and enterprises, 177 financial institutions, with presence in multiple countries, the company competes with companies like Paytm and PhonePe. The company earned ₹1,208 crore in 9 months till December 2024, recording a profit of ₹26.14 crore.
- Listing and allotment dates
- Share allotment: November 12, 2025
- Listing (BSE/NSE): November 14, 2025 (estimated)
--Advertisement--
