Pine Labs IPO Day 3: Check Subscription Status & Key Highlights
The ₹3,899.91 crore initial public offering (IPO) of Pine Labs enters its final day of public bidding today, 11 November, 2025. Till the end of day 2, the IPO received a total subscription of 0.54 times.
Pine Labs IPO: Issue Details
- Issue Size: The Pine Labs IPO is a book-building issue of ₹3,899.91 crore, consisting of a fresh issue of ₹2,080 crore and an offer for sale of ₹1,819.91 crore.
- Price Band: The price band is set between ₹210 and ₹221 per share.
- Book-running lead managers: 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
- Registrar: KFin Technologies Limited
- Listing: The shares are proposed to be listed on the NSE and the BSE on November 14.
Pine Labs IPO Day 3: Subscription Details
[11-November-2025 15:00:00 hrs]
|
Investor Category |
Subscription (Times) |
|
Qualified Institutional Buyers (QIBs) |
4.00 |
|
Non-Institutional Investors |
0.30 |
|
Retail Individual Investors (RIIs) |
1.22 |
|
Employees |
7.35 |
|
Total |
2.46 |
Utilisation of IPO Proceeds
The net proceeds from the fresh issue will be distributed towards
- 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
Pine Labs Business Overview
Pine Labs is a leading merchant commerce and financial technology (“FinTech”) platform that enables digital payments, credit, and commerce solutions across in-store, online, and mobile channels.
The Payments Platform enables in-store and online acceptance of digital payments through cards, UPI, wallets, and QR-based solutions. In FY 2025, Pine Labs processed a Gross Transaction Value (“GTV”) of ₹11,424.97 billion, handling approximately 5.68 billion transactions across its platforms.
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