Kolkata: Fintech company Pine Labs is beginning the bidding process of its IPO to raise Rs 3,899.91 crore through a combination of fresh issue of 9.41 crore shares aggregating to Rs 2,080.00 crore and an OFS (offer for sale) part of 8.23 crore shares aggregating to Rs 1,819.91 crores. The IPO will close for subscription on November 11. SBI Securities has recommended ‘Subscribe’ on the basis of strong operational turnaround.
The company has informed the bourses that it has successfully raised Rs 1,754 crore from anchor investors from as many as 71 funds such as Franklin Templeton, Nomura, Morgan Stanley Asia Singapore Pte Ltd, Amundi Funds New Silk Road, Massachusetts Institute of Technology, BNP Paribas, Eastspring Investments, SBI Mutual Fund (MF), Aditya Birla Sun Life MF, HSBC MF, Tata MF, Edelweiss MF and ICICI Prudential Life Insurance Company. Pine Labs allocated 7.93 crore equity shares to anchor investors at a rice of Rs 221 each.
Pine Labs IPO GMP
According to investorgain, the Grey Market Premium or GMP of Pine Labs IPO stood at Rs 12 in early morning on Friday, November 7. At this level the GMP signals a listing gain of 5.43%. What is significant is that the GMP of this issue crashed from Rs 60 on November 1 to the current level and the decline has been steady. However, it must be kept in mind that GMP is an unofficial indicator that changes with time and cannot guarantee anything — listing gain or loss.
Pine Labs IPO lot size, price band, important dates
The Pine Labs IPO price band has been fixed at Rs 210-221. The smallest lot size for investment by a retail investor is 67 shares which will cost him/her Rs 14,807 considering the upper end of the price band. The lot size investment for sNII category of investors is 14 lots or 938 shares and that for bNII category of investors is 68 lots or 4,556 shares. Axis Capital is the lead manager and Kfin the registrar to the issue.
IPO bidding process: Nov 7-11, 2025
Allotment: Nov 12
Refund: Nov 13
Credit of shares to demat: Nov 13
Listing: Nov 14
Cut-off time for UPI mandate confirmation: 5 pm on Nov 11
Pine Labs business
Pine Labs is based in Noida and has footprints abroad too. It is a tech-focused company which helps digital payments and creates solutions for merchants, consumer brands and enterprises, and financial institutions. It has markets in countries such as Malaysia, the UAE, Singapore, Australia and the US.
Among its competitors are Paytm, Razorpay, Infibeam, PayU Payments, PhonePe (In INdia) and Adyen, Shopify and Block (abroad). Redseer report states that in the last financial year Pine Labs was the largest issuer of closed and semi-closed loop gift cards in this country. In FY25, Pine Labs processed payments worth Rs 11.42 lakh crore via 568 crore transactions. As many as 716 consumer brands/companies, 177 financial institutions and more than 9.88 lakh merchants used it services as on June 30 this year.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, INVITs, any form of alternative investment instruments and crypto assets.)