The allotment for the Pine Labs IPO will be finalised on Wednesday, November 12, and the company's shares will list on the BSE and the National Stock Exchange on November 14.
The initial public offering of Pine Labs was fully subscribed on the last day of bidding on Friday. According to BSE data, the Rs 3,899.91 crore IPO received bids for 24,09,38,834 shares against 9,78,93,739 shares on offer, with investors subscribing the mainboard offer 2.46 times.
Qualified Institutional Buyers (QIBs) led the demand by subscribing 4 times. The portion for Retail Individual Investors (RIIs) was booked 1.22 times.
Pine Labs IPO is a book-built issue of Rs 3,899.91 crore. It comprises a fresh issue of 9.41 crore shares aggregating to Rs 2,080 crore, and an offer for sale (OFS) of 8.23 crore shares aggregating to Rs 1,819.91 crore.
The Pine Labs IPO’s price band has been set at Rs 210-Rs 221 per share.
How To Check Pine Labs IPO Allotment Status On Kfin Technologies
Visit the IPO allotment status page on KFinTech website - https://ipostatus.kfintech.com/.
Select "Pine Labs Ltd." from the dropdown list for company names.
Choose your preferred search method – Application Number, DP/Client ID, PAN, or Account/IFSC.
Enter the relevant details as per your selection.
Complete the CAPTCHA verification.
Click Submit to view your allotment status.
How To Check Pine Labs IPO Allotment Status On BSE Website
Go to the official BSE website at https://www.bseindia.com/investors/appli_check.aspx
Select the issue type as 'Equity.'
Choose "Pine Labs Limited" from the dropdown menu.
Enter your application number or PAN (Permanent Account Number).
Complete the 'Captcha' for verification.
Click on the 'Search' button to view your allotment status.
How To Check Pine Labs IPO Allotment Status On NSE Website
Visit the IPO allotment status page on the NSE website: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Select ‘Equity & SME IPO bid details’.
Select "PINELABS" as the issue symbol.
Enter PAN and Application Number.
Click on the ‘Submit’ button.
Pine Labs IPO GMP Today
The unlisted shares of Pine Labs were trading flat with a negligible grey market premium (GMP) over the IPO price of Rs 221 apiece. The latest GMP was Rs 1, recorded at 8:00 a.m. on Wednesday.
The highest GMP recorded for the IPO was Rs 35 on November 3. The grey market premium has been declining since then, from Rs 22 on November 4 and Rs 12 on November 6. The GMP fell further to Rs 5.5 on November 5, when the IPO opened for subscription, and later to Rs 4 as the public issue remained undersubscribed on Day 2. The GMP declined further to become nil on November 10.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Use Of Proceeds
Pine Labs plans to use the net proceeds from its IPO for several purposes. A part of the funds will be used to repay or prepay certain borrowings of the company and its subsidiaries. Another portion will go toward investments in its overseas subsidiaries in Singapore, Malaysia and the UAE. The company will also invest in IT assets, cloud infrastructure and technology development. The remaining funds will be used for general corporate purposes and potential acquisitions.
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