Pine Labs Limited IPO
Pine Labs Limited IPO
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Pine Labs Limited's successfully completed its Initial Public Offering and commenced trading on 14-11-2025 at the NSE, BSE exchange. The company raised 17,64,66,426 Shares through this public offering, comprising 9,41,17,647 Shares in fresh capital and ₹1819.91 Cr through the Offer for Sale mechanism.
The IPO was priced within the band of ₹210 to ₹221, with minimum application lots of 67 shares. The offering attracted significant investor interest during its subscription period from 07-11-2025 to 11-11-2025.
Share allotment was finalized on 12-11-2025, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Pine Labs IPO About Company
Founded in 1998 and headquartered in Noida, Pine Labs is a leading Indian merchant commerce platform that offers POS solutions, payment processing, and merchant financing services. It helps businesses of all sizes—from small retailers to large enterprises—adopt digital payment technologies and enhance customer experiences. The company’s offerings include smart POS devices that accept multiple payment modes, Buy Now Pay Later (BNPL) options, short-term financing for merchants, loyalty and gift solutions, and online payment tools for e-commerce platforms. As of December 31, 2024, Pine Labs served over 9 lakh merchants and worked with major brands like Amazon Pay, LG Electronics, Flipkart, and banks such as HDFC, Axis, and ICICI. Over the years, Pine Labs has grown from a simple card payment provider into a comprehensive fintech platform driving India’s cashless retail transformation.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Pine Labs IPO Strength Factors
- Integrated Fintech Network: Unified ecosystem connecting merchants, brands, and financial partners for smooth digital transactions.
- Advanced Cloud Infrastructure: Secure, scalable platform designed to handle large transaction volumes efficiently.
- Robust Partner Ecosystem: Strong alliances with leading merchants and financial institutions driving consistent growth and customer retention.
Pine Labs IPO Risk Factors
- Sustained Financial Losses: The company has incurred significant losses in recent years, raising concerns about near-term profitability.
- Liquidity Concerns: Negative operating cash flows indicate potential pressure on liquidity if the trend continues.
- Customer Concentration Risk: Dependence on retaining key merchants and clients makes the business vulnerable to revenue fluctuations.
Pine Labs IPO Lead Manager(s)
- Axis Capital Limited
- Citigroup Global Markets India Private Limited
- J.P. Morgan India Private Limited
- Jefferies India Private Limited
- Morgan Stanley India Company Private Limited
Pine Labs IPO Promoter(s)
NA
Pine Labs IPO FAQs
Pine Labs Limited IPO subscribed 2.48 times. The public issue subscribed 1.26 times in the retail category,3.97times in QIB, and 0.25 times in the HNI (10+) category byNovember 14, 2025 4:15:00 AM (Day 14).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Pine Labs IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Pine Labs IPO FAQs
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The basis of allotment for Pine Labs Limited IPO is available now.
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If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on or send an email with all relevant details to .
