Pine Labs IPO: GMP, dates, price band, other key details in 10 points

Pine Labs IPO: Fintech company Pine Labs is set to launch its initial public offering (IPO) on Friday, November 7. The ₹3,900 crore book build issue, which combines a fresh issue of 9.41 crore shares and an offer for sale (OFS) of 8.23 crore shares, will remain open until Tuesday, November 11.

According to the Red Herring Prospectus (RHP) of Pine Labs IPO, as many as 10 investors are offloading some of their stakes in the OFS. Meanwhile, the RHP states that Pine Labs does not have an identifiable promoter in terms of the SEBI ICDR Regulations and the Companies Act, 2013.

Pine Labs IPO GMP

According to grey market sources, the last grey market premium (GMP) of Pine Labs IPO was ₹12. Considering the upper price band of the mainboard IPO at ₹221 per share, the estimated listing price of Pine Labs shares is ₹233, a premium of 5.4 per cent.

Pine Labs IPO GMP has declined over the last few days. In the previous session, Pine Labs IPO GMP was ₹35. The highest GMP of Pine Labs was ₹60, as per sources.

Pine Labs IPO key details

1. Pine Labs IPO price band: The issue's price band has been set at ₹210 to ₹221 per share.

2. Pine Labs IPO date: The mainboard IPO is opening for subscription on Friday, November 7, and will conclude on Tuesday, November 11.

3. Pine Labs IPO size: The IPO combines a fresh issue of 9.41 crore shares to raise ₹2,080 crore and an OFS of 8.23 crore shares for ₹1,820 crore.

4. Pine Labs IPO reservation: As much as 75 per cent of the net issue is reserved for qualified institutional buyers (QIBs), and 15 per cent of the net issue is reserved for non-institutional investors (NIIs). The remaining 10 per cent is reserved for retail investors.

5. Pine Labs IPO lot size: The IPO lot size is 67 shares. The minimum lot size for a retail investor is one lot. With the issue's upper price band at ₹221, the minimum amount of investment required by retail investors is ₹14,807. The maximum lot size for retail investors is 13 for ₹1,92,491.

6. Pine Labs IPO allotment date and listing date: As the IPO is closing on Tuesday, November 11, the allotment of shares is expected to be finalised on the next business day, Wednesday, November 12. Successful bidders can get the shares on Thursday, November 13, and those who fail to get the allotment will get the refunds on the same day. Pine Labs IPO will list on the BSE and the NSE on Friday, November 14.

7. Pine Labs IPO book-running lead managers and registrar: Axis Capital Limited, Morgan Stanley India Company Private Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Jefferies India Private Limited are the book-running lead managers of the issue. KFin Technologies is the registrar of Pine Labs IPO.

8. Object of Pine Labs IPO: According to the RHP, Pine Labs wants to use the net proceeds from the fresh issue for the payment of certain borrowings, the investment in its subsidiaries for expanding their presence outside India, the investment in IT assets, and general corporate purposes.

9. Pine Labs' business overview: Pine Labs is a fintech company, offering digital payments solutions for merchants, consumer brands and enterprises, and financial institutions.

10. Pine Labs' financial performance: Pine Labs' consolidated profit for the three-month period ended June 30, 2025, was ₹4.79 crore compared to a loss of ₹27.89 crore in the corresponding period of the previous financial year. The company incurred losses of ₹145.49 crore in FY25, ₹341.90 crore in FY24, and ₹265.15 crore in FY23, as it had invested heavily in the growth of its business.

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