Pine Labs IPO Subscribed 54% On Day Two; GMP Down
The Pine Labs IPO has been subscribed 54% as of 5:00 p.m. on Monday.
Pine Labs Ltd. initial public offer was subscribed 54% on the second day. The IPO was subscribed 0.13 times on the first day.
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 Rs 2,080 crore and an offer for sale (OFS) of 8.23 crore shares worth Rs 1,819.91 crore.
The IPO will remain open from Friday, Nov. 7 to Tuesday, Nov. 11. The allotment status is expected to be finalised on Wednesday, November 12, followed by the initiation of refunds and credit of shares to demat accounts on Thursday, November 13. Shares of Pine Labs are tentatively scheduled to list on the BSE and NSE on Friday, November 14.
The Pine Labs IPO’s price band has been set between Rs 210 and Rs 221 per share. The lot size for retail investors is 67 shares, requiring a minimum investment of Rs 14,807. For small non-institutional investors (sNII), the minimum application size is 14 lots (938 shares) worth Rs 2,07,298, while for big non-institutional investors (bNII), it is 68 lots (4,556 shares) amounting to Rs 10,06,876.
Axis Capital Ltd. is the book-running lead manager for the Pine Labs IPO, while Kfin Technologies Ltd. is the registrar for the issue.
Pine Labs Subscription Status
The Pine Labs IPO has been subscribed 54% as of 5:00 p.m. on Monday.
Qualified Institutional Buyers (QIBs): 0.64 times or 64%.
Non-Institutional Investors (NIIS): 0.12 times or 12%.
Retail Individual Investors: 0.87 times or 87%.
Employee reserved: 4.9 times.
Pine Labs GMP Today
The grey market premium of Pine Labs Ltd. is Rs 2 as of 4:00 p.m. as per data on Investorsgain website. The GMP indicated a listing price of Rs 223 and a listing premium of 0.9%.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
About Pine Labs
Pine Labs Ltd., incorporated in 1998, provides digital payment solutions and value-added services to businesses of all sizes, from small retailers to large enterprises. It offers smart POS devices that accept payments through cards, UPI, mobile wallets and EMIs.
The company also provides Buy Now Pay Later (BNPL) options for instant EMIs at checkout. Pine Labs gives short-term loans to merchants to meet their working capital needs through its partners. It even helps brands run loyalty programmes and digital gift card campaigns. In addition, Pine Labs offers payment gateways and APIs to support online stores and apps.
