Pine Labs IPO
Open MainLineCurrent GMP
₹5 (+2.26%)
Price Band
₹ 210 – 221
Lot Size
67
Issue Size
₹3899.91 Cr
Minimum Investment
₹14807 (67 Shares)
Listing Date
14 November 2025
Subscription
2.46x
About the Company
Incorporated in 1998, Pine Labs is a leading Indian merchant commerce platform that provides innovative point-of-sale (POS) solutions, payment processing, and merchant financing services. The company empowers businesses of all sizes—from small retailers to large enterprises—with cutting-edge digital payment technologies and a suite of value-added services that drive efficiency and growth.
Key Offerings
- Smart POS Devices:
Accepts multiple forms of payment, including credit and debit cards, UPI, mobile wallets, and EMI options, offering flexibility and convenience to both merchants and customers. - Buy Now, Pay Later (BNPL):
Provides instant EMI solutions at the point of sale, enabling consumers to purchase a wide range of goods through easy financing options. - Merchant Financing:
Offers short-term working capital loans to merchants through partnerships with leading financial institutions, supporting business liquidity and expansion. - Loyalty and Gift Solutions:
Delivers digital loyalty programs, gift cards, and promotional campaign tools that help brands engage and retain customers. - E-commerce and Online Payment Tools:
Provides APIs and payment gateway services that support online stores and mobile applications, ensuring seamless digital payment experiences.
Business Scale and Partnerships
As of June 30, 2025, Pine Labs served:
- 988,304 merchants across India and international markets
- 716 consumer brands and enterprises
- 177 financial institutions
The company’s clientele includes prominent consumer brands such as Amazon Pay, LG Electronics, Flipkart Internet Private Limited, and Redington, as well as major banking partners like HDFC Bank, Axis Bank, and ICICI Bank.
Evolution and Impact
Over the years, Pine Labs has evolved from a card-based payment solution provider into a comprehensive fintech platform, playing a pivotal role in advancing India’s transition to a cashless and digitally empowered retail economy.
Promoters
Company does not have identifiable promoters
Promoters Holding
Holding Pre Issue
0.00%
Holding Post Issue
0.00%
Objects of the Issue
The Company Pine Labs IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Repayment / prepayment, in full or in part, of certain borrowings availed of by our Company and certain of our Subsidiaries
- Investment in certain of our Subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding our presence outside India
- Investment in IT assets, expenditure towards cloud infrastructure, technology development initiatives and procurement of DCPs
- General corporate purposes and unidentified inorganic acquisitions
Address / Contact Info
Pine Labs Ltd.
Unit No. 408,
4th Floor, Time Tower,
MG Road, DLF QE
Gurgaon, Haryana, 122002
Phone: +91 22 6986 3600
Email: cosecy@pinelabs.com
Website: http://www.pinelabs.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Friday, 07 November 2025
IPO Close Date
Tuesday, 11 November 2025
Basis of Allotment
Wednesday, 12 November 2025
Initiation of Refunds
Thursday, 13 November 2025
Credit of Shares to Demat
Thursday, 13 November 2025
Listing Date
Friday, 14 November 2025 — NSE & BSE
Important Dates
Open Date
07 November 2025
Close Date
11 November 2025
Basis Of Allotment
12 November 2025
Listing Date
14 November 2025
Financial Performance (₹ in Crores)
| Particular | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 10904.32 | 10715.74 | 9648.56 | 9363.21 |
| Revenue | 653.08 | 2327.09 | 1824.16 | 1690.44 |
| Profit After Tax | 4.79 | -145.49 | -341.9 | -265.15 |
| Net Worth | 2327.55 | -2244.27 | -2035.24 | -1764.77 |
| Reserve & Surplus | 0 | 0 | 0 | 0 |
| Total Borrowings | 888.74 | 829.49 | 532.92 | 329.51 |
EPS Pre
-1.38%
EPS Post
0.00%
P/E Pre
0.00
P/E (Post Issue)
0.00x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | 31 March 2025 |
|---|---|
| ROE % | 0 |
| ROCE % | 0 |
| Debt / Equity | 0 |
| RoNW % | -4.15 |
| PbW | 0 |
| Pat Margin % | 0 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 52897083 | 54.47 | 0 |
| Non-Institutional | 26451214 | 27.24 | 0 |
| BNII | 17634143 | 18.16 | 0 |
| SNII | 8817071 | 9.08 | 0 |
| Retail Investors | 17634143 | 18.16 | 0 |
| Employees | 125000 | 0.13 | 0 |
| Total | 97107440 | 100 | 0 |
Subscription Status ( Tue, 11 Nov 25 01:31 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 52442127 | 209792544 | 4x |
| Non-Institutional | 27191602 | 8030754 | 0.3x |
| BNII | 18127735 | 4366323 | 0.24x |
| SNII | 9063867 | 3664431 | 0.4x |
| Retail Investors | 18127735 | 22142830 | 1.22x |
| Employees | 132275 | 972706 | 7.35x |
| Total | 97893739 | 240938834 | 2.46x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Pine Labs Limited | 1 | 0.00 | -1.45 | -1.45 | -4.15 | -4.15 |
| One97 Communications Ltd | 1 | -110.98 | -10.35 | -10.35 | -4.69 | 235.54 |
| Zaggle Prepaid Ocean Services Ltd | 1 | 48.87 | 6.99 | 6.96 | 9.64 | 99.25 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 67 | 14,807.00 |
| Retail (Max) | 13 | 871 | 192,491.00 |
| S-HNI (Min) | 14 | 938 | 207,298.00 |
| S-HNI (Max) | 67 | 4,489 | 992,069.00 |
| B-HNI (Min) | 68 | 4,556 | 1,006,876.00 |
Registrar
Kfin Technologies Limited
04067162222, 04079611000
reachus@kfintech.com
https://www.kfintech.com
Book Running Lead Managers
- Citigroup Global Markets India Private Limited
- Axis Capital Limited
- Morgan Stanley India Company Private Limited
- J.P. Morgan India Private Limited
- Jefferies India Private Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Pine Labs IPO is a Book-building IPO worth ₹3899.91 crores. The price band is ₹210 to 221 per share. The IPO opens on Fri, Nov 7, 2025 and closes on Tue, Nov 11, 2025. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.
The Pine Labs IPO opens on Fri, Nov 7, 2025 and closes on Tue, Nov 11, 2025
Pine Labs IPO Price Band is ₹210 to 221.
Pine Labs IPO lot size is 67, and the minimum amount required for application is ₹14807.
The minimum investment for Pine Labs IPO is approximately ₹14807 based on the upper price band.
To apply for the Pine Labs IPO , investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Tue, Nov 11, 2025. After submission, funds are blocked until the basis of allotment of Pine Labs IPO is finalised.
Pine Labs IPO issue size is ₹3899.91 crores.
Pine Labs IPO allotment date is Sat, Jun 27, 2026.
The registrar for Pine Labs IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to Pine Labs IPO through their official website or helpline.
The Pine Labs IPO GMP (Grey Market Premium) is ₹5 as of Fri, Nov 14, 2025. Based on the upper price band of ₹221 per share, the estimated Pine Labs IPO listing price is ₹226, indicating a potential listing gain of approximately 31% over the issue price.