Pine Labs IPO
Pine Labs IPO
Overview
Pine Labs IPO is a book build issue . The issue comprises of fresh issue of ₹2,080.00 crores and offer for sale of 8.23 crore shares. Pine Labs IPO opens for subscription on Nov 7, 2025 and closes on Nov 11, 2025. The allotment for the Pine Labs IPO is expected to be finalized on Nov 12, 2025. Pine Labs IPO will list on BSE, NSE with a tentative listing date fixed as Nov 14, 2025. Pine Labs IPO price band is set at [.] to [.] per share . Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Total Shares
17,64,66,426
Issue Size
₹3,899.91 Cr
Price Band
₹210 – ₹221
Lot Size
67 shares
Min. Investment
₹14,807
Max. Investment
₹1,92,491
Open Date
07 Nov, 2025
Close Date
11 Nov, 2025
Allotment
12 Nov, 2025
Listing
14 Nov, 2025
Max. Investment
₹1,92,491
Announced
07 Nov, 2025
Opening Date
07 Nov, 2025
Closing Date
11 Nov, 2025
Basis of Allotment
12 Nov, 2025
Initiation of Refunds
13 Nov, 2025
Credit of Shares
13 Nov, 2025
Listing Date
14 Nov, 2025
Live GMP
Est. Listing: ₹222
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About Pine Labs IPO
Incorporated in 1998, Pine Labs is a leading Indian merchant commerce platform that provides point-of-sale (POS) solutions, payment processing, and merchant financing services. Pine Labs empowers businesses of all sizes—from small retailers to large enterprises—with digital payment technologies and value-added services.
Key Offerings:
- Smart POS Devices – Accept multiple forms of payments including credit/debit cards, UPI, mobile wallets, and EMIs.
Pine Labs IPO Share Price
Issue Breakdown
Shareholding
Pine Labs IPO Financial Health
Pine Labs Ltd.'s revenue increased by 28% and profit after tax (PAT) rose by 57% between the financial year ending with March 31, 2025 and March 31, 2024.
Pine Labs IPO Lot Size
Investors can bid for a minimum of 67 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 67 | ₹14,807 |
| Retail (Max) | 13 | 871 | ₹1,92,491 |
| S-HNI (Min) | 14 | 938 | ₹2,07,298 |
| S-HNI (Max) | 67 | 4489 | ₹9,92,069 |
| B-HNI (Min) | 68 | 4556 | ₹10,06,876 |
(All values in CR)
Pine Labs IPO Valuations
| Metric | Value |
|---|---|
| RoNW | -4.15 |
| EBITDA Margin | 15.68 |
(All values in CR)
Pine Labs IPO Strength & Risk
Pine Labs IPO Strength:
- Leading fintech platform in merchant payments and retail checkout solutions.
- Comprehensive product portfolio including POS systems, digital payments, and loyalty programs.
- Strong partnerships with banks, brands, and global investors adding credibility and market reach.
- Well-established merchant network with deep integration across industries.
- Proven technology infrastructure supporting large-scale transactions securely.
- Improving profitability trend supported by operational efficiency.
- Strong positioning to benefit from the rapid growth of digital payments and fintech adoption.
- Focus on innovation and product diversification to meet evolving merchant needs.
Pine Labs IPO Risk:
- Dependence on merchant and banking partners, exposing the business to ecosystem risks.
- High competition in the fintech and digital payment space impacting margins.
- Profitability sustainability remains uncertain due to past losses and heavy investments.
- Exposure to cybersecurity threats and regulatory compliance challenges.
- Rapid technological changes could make existing solutions less relevant.
- Dependence on key markets creating geographic concentration risk.
- Potential delays or hurdles in global expansion strategy.
Pine Labs IPO Subscriptions Status
Pine Labs IPO subscribed 2.48 times. The public issue subscribed 1.27 times in the retail category, 3.97 times in QIB (Ex Anchor), and 0.30 times in the NII category by November 11, 2025 5:04:34 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 7,93,58,986 | 7,93,58,986 | 1 |
| QIB (Ex Anchor) | 3.97 | 5,28,97,083 | 20,97,92,544 | 4 |
| Non-Institutional Buyers | 0.30 | 2,64,51,214 | 80,30,754 | 177.48 |
| bNII (bids above ₹10L) | 0.25 | 1,76,34,143 | 43,66,323 | 96.496 |
| sNII (bids below ₹10L) | 0.42 | 88,17,071 | 36,64,431 | 80.984 |
| Retail | 1.27 | 1,76,34,143 | 2,23,73,578 | 494.456 |
| Employees | 7.78 | 1,25,000 | 9,72,639 | 21.495 |
| Total | 2.48 | 9,71,07,440 | 24,11,69,515 | 5 |
Pine Labs IPO GMP
Pine Labs IPO last GMP is ₹1, last updated Nov 11th 2025 05:32 PM. With the price band of 221.00, Pine Labs IPO's estimated listing price is ₹222 (cap price + today's GMP).The expected percentage gain/loss per share is 0.45%. >> Pine Labs IPO Retail Subject to Sauda: ₹100 >> Pine Labs IPO Small HNI Subject to Sauda: ₹1400 The lowest GMP is ₹0.00, while the highest GMP is ₹60.00.
Last updated 11 Nov, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 11 Nov, 2025 | 221 | ₹1▲ | 100/1400 | ₹222 (0.45%) | 67 | 11 Nov, 2025 |
| 10 Nov, 2025 | 221 | ₹0▼ | - | - | - | 10 Nov, 2025 |
| 09 Nov, 2025 | 221 | ₹4 | 200/2800 | ₹225 (1.81%) | 268 | 09 Nov, 2025 |
| 08 Nov, 2025 | 221 | ₹4▼ | 200/2800 | ₹225 (1.81%) | 268 | 08 Nov, 2025 |
| 07 Nov, 2025 | 221 | ₹5.5▼ | 300/4200 | ₹226.5 (2.49%) | 368.5 | 07 Nov, 2025 |
| 06 Nov, 2025 | 221 | ₹12▼ | 600/8400 | ₹233 (5.43%) | 804 | 06 Nov, 2025 |
| 05 Nov, 2025 | 221 | ₹17▼ | 900/12600 | ₹238 (7.69%) | 1139 | 05 Nov, 2025 |
| 04 Nov, 2025 | 221 | ₹22▼ | 1100/15400 | ₹243 (9.95%) | 1474 | 04 Nov, 2025 |
| 03 Nov, 2025 | 221 | ₹35▼ | 1800/25200 | ₹256 (15.84%) | 2345 | 03 Nov, 2025 |
| 01 Nov, 2025 | 0 | ₹60 | - | ₹60 (0.00%) | - | 01 Nov, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Pine Labs IPO
Login to Your Trading App
Open Zerodha, Upstox, Groww, Angel One, or any brokerage app.
Go to IPO Section
Find Pine Labs IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
Approve Mandate on UPI App
Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.