Pine Labs IPO Sees Muted Demand On Final Day of Bidding, Issue Booked 2x - Check Price Band, Lot Size and More

Pine Labs IPO: Pine Labs’ public issue is scheduled to close today on November 11. Pine Labs IPO has been booked more than 2 times on the final day of subscription. On the final day of subscription the grey market trends for the point-of-sale (POS) solutions provider’s stock are also pointing towards a weak listing.

Pine Labs IPO GMP

Pine Labs IPO grey market premium (GMP) fell to zero as per multiple websites which track the demand for shares of unlisted companies. Based on the grey market premium the stock is expected to make a weak market debut.

Pine Labs IPO: Subscription Update On Day 3

Pine Labs IPO has received bids for more than 240.7 million shares across categories so far against the 97.8 million shares offered for subscription, leading to the issue being subscribed 2.46 times.

Non-institutional investors (NIIs) have booked the issue 29 per cent so far. NII’s have placed bids for 8.01 million shares of the company against the 27.09 million shares reserved for subscription.

Pine Labs IPO has been booked 1.21 times by retail Individual Investors (RIIs) so far. RIIs placed bids for 21.9 million shares compared to the 18.1 million shares reserved for the retail category.

Qualified institutional buyers (QIBs) have applied for 209.7 million shares of the fintech company’s public issue so far on the last day of bidding against the 52.4 million shares reserved for the category, booking the issue 4 times.

Employees of the fintech firm placed bids for 9,61,785 million shares compared to the 1,32,275 shares set aside for the category leading to the issue being booked 7.27 times.

Pine Labs IPO Issue Size

Pine Labs Ltd seeks to raise Rs 3,899.91 crore from its public issue. Pine Labs IPO consists of a fresh issuance of 94.1 million shares and an offer for sale of 82.3 million shares.

Pine Labs IPO price band was set at Rs 210 to Rs 221 per share. The minimum lot size for retail individual investors was fixed at 67 shares, which aggregates to an investment of Rs 14,807.

Pine Labs IPO: Subscription Dates and Listing Date

Pine Labs IPO’s subscription window opened earlier last week on November 7. Pine Labs IPO subscription window is scheduled to close on November 11. The share allotment status of Pine Labs IPO will be announced on November 12. Subsequently Pine Labs Ltd will issue refunds for unsuccessful applicants on November 13. Pine Labs Ltd shares are scheduled to list on the bourses on November 14.

Pine Labs: Financials

Pine Labs’ total income for the quarter ended on June 30, 2025 stood at Rs 653.08 crore, the company’s profit-after-tax stood at Rs 4.79 crore and the net worth of the company stood at Rs 2,327.55 crore.

Pine Labs’ total income for FY25 surged to Rs 2327.09 crore, growing by more than 27 per cent from Rs 1824.16 crore in FY24. The fintech company’s net loss decreased to Rs 145.49 crore in FY25 from Rs 341.9 crore in FY24.

Pine Labs IPO: Registrar

The registrar for Pine Labs IPO is Kfin Technologies Ltd and the book running lead manager for the public issue is Axis Capital Ltd.

Pine Labs IPO: Objective

Pine Labs seeks to use the money raised via the public issue for repayment of its borrowings. The proceeds will also be used for investment in subsidiaries such as Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE. The proceeds will also be used for investment in IT assets, expenditure towards cloud infrastructure, technology development initiatives and procurement of Digital Check-out Points. The proceeds will also be used for general corporate purposes.

About Pine Labs Ltd

Pine Labs Ltd was incorporated in 1998. The company operates as an Indian merchant commerce platform which provides point-of-sale (POS) solutions, payment processing, and merchant financing services. The company offers services such as smart pos devices, buy now pay later (BNPL) offers, merchant financing, loyalty and gift solutions and e-commerce and online payment tools.