Pine Labs IPO
GMP, Subscription, Price, Dates & Financial Details
Fintech
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…
Open Date
Fri, 07 Nov 2025
Close Date
Tue, 11 Nov 2025
Price Band
₹ 210 – 221
Lot Size
67
Issue Size
₹ 3,899.91 Cr
Minimum Investment
₹ 14,807 (67 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Pine Labs IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹3,899.91 Crore, comprising a fresh issue of 9.41 Crore equity shares aggregating to ₹2,080.00 Crore and an offer for sale (OFS) of 8.23 Crore equity shares aggregating to ₹1,819.91 Crore by the existing shareholders.
The Pine Labs IPO remained open for subscription from November 07, 2025, to November 11, 2025. The basis of allotment was finalized on November 12, 2025, and the company's shares were listed on the NSE and BSE on November 14, 2025.
The company had fixed the price band at ₹210 to ₹221 per share, with a lot size of 67 shares. Retail investors were required to make a minimum investment of ₹14,807 (based on the upper price band) to apply for one lot.
The IPO also included a reservation of 125,000 equity shares for eligible employees, who received a discount of ₹21.00 per share.
KFin Technologies Limited served as the registrar to the issue. Citigroup Global Markets India Private Limited, Axis Capital Limited, Morgan Stanley India Company Private Limited, J.P. Morgan India Private Limited, and Jefferies India Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Pine Labs Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Pine Labs IPO Timeline (Tentative)
- IPO Open Date
- Fri, 07 Nov 25
- IPO Close Date
- Tue, 11 Nov 25
- Basis of Allotment
- Wed, 12 Nov 25
- Initiation of Refunds
- Thu, 13 Nov 25
- Credit of Shares to Demat
- Thu, 13 Nov 25
- Listing Date
- Fri, 14 Nov 25 — NSE & BSE
Open Date
07 November 2025
Close Date
11 November 2025
Basis Of Allotment
12 November 2025
Listing Date
14 November 2025
IPO Subscription
Check Live Subscription →The Pine Labs IPO has received bids for 24,09,38,834 shares against 9,78,93,739 shares offered, resulting in an overall subscription of 2.46x. the NII category is subscribed 0.3x, Retail Investors 1.22x, Employees 7.35x, and QIBs 4x. Within the NII category, BNII is subscribed 0.24x, while SNII is subscribed 0.4x.
QIB
4x
NII
0.3x
BNII
0.24x
SNII
0.4x
RII
1.22x
EMP
7.35x
Total
2.46x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 1,76,34,143 shares, representing 18.16% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 5,28,97,083 shares (54.47%), while Non-Institutional Investors (NIIs) receive 2,64,51,214 shares (27.24%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 52,897,083 | 54.47% |
| Non-Institutional | 26,451,214 | 27.24% |
| BNII | 17,634,143 | 18.16% |
| SNII | 8,817,071 | 9.08% |
| Retail Investors | 17,634,143 | 18.16% |
| Employees | 125,000 | 0.13% |
| Total | 97,107,440 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Pine Labs Limited KPI Information
| Particular | 31 March 2025 |
|---|---|
| RoNW % | -4.15 |
Peers Comparison
| 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 |
About Pine Labs Limited
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.
Pine Labs IPO Promoters
Company does not have identifiable promoters
Promoters Holding
Holding Pre Issue
0.00%
Holding Post Issue
0.00%
Pine Labs IPO Objective
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
Pine Labs Limited Address / Contact Details
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
Pine Labs IPO Lot Size
The Pine Labs IPO has a lot size of 67 shares. Retail investors require a minimum investment of ₹14,807 by applying for 1 lot (67 shares). The maximum application allowed for the retail category is 13 lots (871 shares), requiring an investment of ₹1,92,491.
| 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 |
Issue Reservation
- QIB — 54.47%
- NII — 27.24%
- RII — 18.16%
- EMP — 0.13%
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
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Pine Labs IPO?
Pine Labs IPO is a Book-building IPO with a total issue size of ₹3899.91 crore. The Pine Labs IPO price band is ₹210 to 221 per share. The Pine Labs IPO subscription opens on Fri, Nov 7, 2025, and closes on Tue, Nov 11, 2025. The Pine Labs IPO will be listed on the BSE,NSE. KFin Technologies Limited is the registrar for the Pine Labs IPO.
When will the Pine Labs IPO open for subscription?
The Pine Labs IPO opens on Fri, Nov 7, 2025 and closes on Tue, Nov 11, 2025
What is Pine Labs IPO Price Band?
Pine Labs IPO Price Band is ₹210 to 221 per share.
What is Pine Labs IPO Lot Size?
Pine Labs IPO lot size is 67 shares, Retail investors need a minimum investment of ₹14807 based on the upper price band
What is the minimum investment for Pine Labs IPO?
The minimum investment for Pine Labs IPO is ₹14807, based on one lot of 67 shares at the upper price band of ₹221 per share.
How to apply for Pine Labs IPO?
Investors can apply for the Pine Labs IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Nov 11, 2025. The application amount remains blocked until the Pine Labs IPO allotment is finalized.
What is Pine Labs IPO Issue Size?
Pine Labs IPO issue size is ₹3899.91 crores.
What is the Pine Labs IPO Allotment Date?
Pine Labs IPO allotment date is Wed, Nov 12, 2025.
Who is the Pine Labs IPO Registrar?
The registrar for Pine Labs IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check Pine Labs IPO allotment status, refund processing, and other IPO-related information.
What is the Pine Labs IPO GMP?
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 2.26% over the issue price.
Who is the Pine Labs IPO Lead Manager?
The book-running lead managers (BRLMs) for the Pine Labs IPO are Citigroup Global Markets India Private Limited, Axis Capital Limited, Morgan Stanley India Company Private Limited, J.P. Morgan India Private Limited, and Jefferies India Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Pine Labs IPO Red Herring Prospectus (RHP).