Summary of this article
Pine Labs IPO price band was announced on November 3
Pine Labs has fixed the price band between Rs 210 and Rs 221
Pine Labs IPO is scheduled to open for subscription on November 7
Pine Labs IPO Details: Pine Labs Ltd has announced the price band for its upcoming public issue. The fintech solutions provider’s public issue is set to open in the first week of November.
Here’s a look at the price band of the public issue, the offer size, lot size and other key details applicants should know about the public issue ahead of the opening of its bidding window:
Pine Labs IPO: Offer Size and Price Band
Pine Labs IPO has an offer size of Rs 3,899.91 crore. The book-building issue comprises an equity issue of 94.1 million shares aggregating to Rs 2,080 crore and an offer for sale of 82.3 million shares aggregating to Rs 1,819.91 crore. The price band for Pine Labs IPO has been fixed at Rs 210 to Rs 221 per share.
Pine Labs IPO: GMP
On November 3, shares of Pine Labs were commanding a premium of Rs 60 per share in the grey market for shares of unlisted companies. Shares of the fintech solutions provider are likely to list with a premium of 27.14 per cent compared to the upper end of the price band at Rs 281 apiece according to websites which track the demand for shares of unlisted companies.
Pine Labs IPO: Lot Size and Minimum Investment
Pine Labs IPO lot size is 67 shares, leading to minimum investment of Rs 14,807 per lot for the retail category. The minimum lot size for small non-institutional investors is 14 lots or 938 shares amounting to Rs 2,07,298, and for big non-institutional investors it is 68 lots leading to a minimum investment of Rs 10,06,876.
Pine Labs IPO: Reservation
Pine Labs Ltd has reserved 75 per cent for the qualified institutional buyer category, 15 per cent for the non-institutional investor category and 10 per cent of the net issue for retail investors.
Pine Labs IPO: Subscription window, listing date, allotment date
Pine Labs IPO subscription window is scheduled to open on November 7 and will close on November 11. Pine Labs IPO share allotment status will be announced on November 12. Post the announcement of the share allotment status of Pine Labs IPO, unsuccessful bidders will receive refunds on November 13. Pine Labs’s shares will be listed on the NSE and BSE. The tentative listing date for Pine Labs Ltd shares is November 14.
Pine Labs: Key Financials
Pine Labs Ltd.'s total income for the quarter ended June 30 stood at Rs 653.08 crore, the profit-after-tax of the company stood at Rs 4.79 crore. The net worth of the fintech company stood at Rs 2,327.55 crore in the quarter under review.
In the fiscal ended March 31, 2025 Pine Labs’s total income surged by over 27 per cent to Rs 2327.09 crore compared to Rs 1824.16 crore in the fiscal ended March 31, 2024. Pine Labs posted a net loss of Rs 145.49 crore against a net loss of Rs 341.90 crore in the preceding fiscal. The net worth of Pine Labs Ltd remained negative in FY25 at Rs 2,244.27 crore, the company also posted negative net worth in the preceding fiscal amounting to Rs 2,035.24 crore.
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: Promoters And Selling Shareholders
Pine Labs does not have any identifiable promoters according to the Red Herring Prospectus. However existing shareholders of the company such as Peak XV Partners Pine Investment Holdings, Actis Pine Labs Investment Holdings, Ltd, Macritchie Investments Pte. Ltd, PayPal Pte. Ltd, Mastercard Asia/Pacific Pte. Ltd, AIM Investment Funds (Invesco Investment Funds), on behalf of its series portfolio Invesco Developing Markets Fund, Madison India Opportunities IV, Lone Cascade, L.P, Lokvir Kapoor and Sofina Ventures S.A will participate in the offer-for-sale and pare their stake.
Pine Labs IPO: Objective
Pine Labs seeks to use the money raised via its public issue for repayment or prepayment of its borrowings and that of its subsidiaries. The proceeds will also be used by Pine Labs for investment in its subsidiaries Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE. A portion of the proceeds will also go towards expenditures such as investment in IT assets, expenditure towards cloud infrastructure, technology development initiatives and procurement of digital checkout points (DCPs). The company will also use the proceeds for general corporate purposes and unidentified inorganic acquisitions.
About Pine Labs Ltd
Pine Labs Ltd is a provider of various financial technology solutions such as a merchant commerce platform with solutions for point-of-sale (POS), payment processing, and merchant financing. The company also provides digital payment technologies and services along with buy-now-pay-later (BNPL) options, loyalty programs, and e-commerce payment tools.
