Pine Labs IPO Day 1: Check Subscription Status and Key Highlights

Pine Labs, which is a leading Indian merchant commerce platform for digital payments and point-of-sale (POS) solutions is launching its Initial Public Offering (IPO) today on November 7, 2025. The bidding window for the Pine Labs IPO will be open till November 11, 2025 for public subscription. The allotment process for the IPO is expected to be finalised on November 12, 2025. The shares of Pine Labs will be listed on both NSE and BSE with a tentative listing date fixed as November 14, 2025. 

Pine Labs IPO Details

Pine Labs IPO is a bookbuilding  issue of ₹3,899.91 crore, consisting of a fresh issue of ₹2,080 crore and an offer for sale (OFS) of ₹1,819.91 crore worth of shares from investor selling shareholders. The IPO price band is set between ₹210 and ₹221 per share and the minimum lot size (for retail investor) is 67 shares per lot.  The minimum investment amount required for retail investor is ₹14,807 per lot. 

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 for the IPO. While, KFin Technologies Limited is the registrar for the issue.

Pine Labs IPO Day 1 Subscription Status

[November 7, 2025,  10:51 AM]

On Day 1, Pine Labs IPO saw a subscription of 0.05 times as per the NSE data on Novemeber 7, 2025, 10:51 a.m. The public issue was subscribed 0.23 times in the Retail Individual Investors(RIIs) category, 0.03 times in the Non Institutional Investors (NII) category and 0.95 times in the Employees category. It is yet to receive bids from the Qualified Institutional Buyers (QIBs) category.

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Utilisation of Proceeds

The Company will utilise the net proceeds from the fresh issue towards the following objectives:

• Repay/prepay outstanding debt.
• Investment in Subsidiaries, Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding presence outside India.
• Invest in IT assets, procurement of digital check-out points (“DCP”) and technology development initiatives.
• Fund capital expenditure towards cloud infrastructure.
• General corporate purposes .
• Unidentified inorganic acquisitions.

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About Pine Labs

Pine Labs, which is headquartered in Noida, India (incorporated 1998) is a merchant commerce platform delivering point-of-sale (“POS”) devices, digital payments infrastructure, EMI/BNPL solutions, loyalty/gift-card services and prepaid issuing & acquiring capabilities. The business is organised around two key verticals: the “Digital Infrastructure & Transaction Platform” (for merchants’ payment/checkout flows and value-added services) and the “Issuing & Acquiring Platform” (for issuance of prepaid/gift cards, loyalty programs and enterprise fintech services).

Financially, in FY 2025 (year ended March 31, 2025), Pine Labs reported revenue of about ₹1,735.1 crore and posted a net profit of ₹44.97 crore.

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