{"id":16988,"date":"2025-11-07T12:54:53","date_gmt":"2025-11-07T07:24:53","guid":{"rendered":"https:\/\/trending.niftytrader.in\/?p=16988"},"modified":"2025-11-07T12:54:53","modified_gmt":"2025-11-07T07:24:53","slug":"pine-labs-ipo-sees-7-subscription-on-day-1-gmp-slips-to-2","status":"publish","type":"post","link":"https:\/\/www.niftytrader.in\/markets\/ipo-news\/pine-labs-ipo-sees-7-subscription-on-day-1-gmp-slips-to-2\/","title":{"rendered":"Pine Labs IPO Sees 7% Subscription on Day 1; GMP Slips to 2%"},"content":{"rendered":"

The \u20b93,900 crore initial public offering (IPO) of Pine Labs received a tepid response on Day 1, with overall subscription reaching 7% so far. The fintech company\u2019s grey market premium (GMP) dropped sharply to around 2%, down from 5% a day earlier.<\/p>\n

According to stock market data, the issue has received bids for 65.5 lakh shares against the total offer size of 9.79 crore shares. Retail investors subscribed to 30% of their allotted portion, while Non-Institutional Investors (NIIs) booked around 3%. However, Qualified Institutional Buyers (QIBs) have yet to make significant bids.<\/p>\n

Price Band and Valuation<\/h2>\n

The price band for the IPO is set between \u20b9210 and \u20b9221 per share, valuing Pine Labs at approximately \u20b925,377 crore at the upper end. Investors can bid for a minimum of 67 shares, translating to an investment of \u20b914,807 at the upper price band.<\/p>\n

The IPO consists of a fresh issue worth \u20b92,080 crore and an offer for sale (OFS) of 8.23 crore shares by existing investors such as Peak XV Partners, Macritchie Investments, Madison India, Mastercard, and PayPal.<\/p>\n

The issue opened for public subscription on November 7 and will close on November 11. The allotment is expected on November 12, with listing scheduled for November 14 on stock exchanges.<\/p>\n

Also Read<\/strong>: Surat Prop Trading Scam Spreads Nationwide, Losses May Exceed \u20b9150 Crore<\/a><\/em><\/p>\n

GMP Trend<\/h2>\n

Ahead of the listing, Pine Labs\u2019 unlisted shares were trading at a slight 2% premium over the IPO price, as per data from Investorgain. This is a notable fall from earlier levels \u2014 5% the previous day, 8% earlier this week, and 16% earlier this month.<\/p>\n

Meanwhile, data from IPO Watch suggested a 5% premium, reflecting uncertainty around market sentiment.<\/p>\n

Company Overview<\/h2>\n

Based in Noida, Pine Labs operates across in-store payment terminals, online payment gateways, and prepaid and gift card solutions, serving millions of merchants globally. It is recognized as India\u2019s largest issuer of closed and semi-closed loop gift cards by transaction value.<\/p>\n

The company also offers digital affordability and merchant solutions, and has expanded operations into Malaysia, UAE, Singapore, Australia, the US, and Africa.<\/p>\n

Analyst Views<\/h3>\n

HDFC Securities noted Pine Labs\u2019 strength in digital payment and merchant solutions, highlighting its leadership in issuing gift cards and digital checkout offerings.<\/p>\n

However, Angel One assigned a \u2018Neutral\u2019 rating, citing valuation concerns. \u201cAt \u20b9221 per share, Pine Labs\u2019 valuation remains high relative to peers on EV\/EBITDA and is not comparable on a P\/E basis as it\u2019s still loss-making,\u201d the brokerage stated.<\/p>\n

Click here to explore<\/strong>: Pine Labs\u00a0<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The \u20b93,900 crore initial public offering (IPO) of Pine Labs received a tepid response on Day 1, with overall subscription reaching 7% so far. The fintech company\u2019s grey market premium (GMP) dropped sharply to around 2%, down from 5% a day earlier. According to stock market data, the issue has received bids for 65.5 lakh […]<\/p>\n","protected":false},"author":2,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1367],"tags":[],"ppma_author":[1329],"class_list":{"0":"post-16988","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ipo-news"}," _eael_post_view_count":0,"authors":[{"term_id":1329,"user_id":2,"is_guest":0,"slug":"snehagandhi","display_name":"Sneha Gandhi","avatar_url":{"url":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/10\/Sneha-Gandhi.jpeg","url2x":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/10\/Sneha-Gandhi.jpeg"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":""}],"_links":{"self":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/16988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/comments?post=16988"}],"version-history":[{"count":1,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/16988\/revisions"}],"predecessor-version":[{"id":16990,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/16988\/revisions\/16990"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media\/16989"}],"wp:attachment":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media?parent=16988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/categories?post=16988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/tags?post=16988"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/ppma_author?post=16988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}