Pine Labs IPO GMP: Here's What Grey Market Signals Ahead Of November 7 Launch
Pine Labs Ltd. IPO will be open for subscription from November 7 to 11. The current grey market premium suggests a listing gain of around 16%.
Pine Labs Ltd., a merchant commerce platform offering point-of-sale (POS) solutions, payment processing and merchant financing services, is set to launch its initial public offering (IPO) on Friday, November 7.
With the subscription period just around the corner, here’s all you need to know about the Pine Labs Ltd. IPO, including the price band, grey market premium (GMP), offer size and other details.
Pine Labs IPO GMP Today
As of 10:30 a.m. on November 4, the grey market premium (GMP) of Pine Labs’ IPO was Rs 35. With the upper end of the price band set at Rs 221 apiece, the stock is expected to list around Rs 256, indicating a potential listing gain of nearly 15.84% for investors.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
ALSO READ
Groww IPO GMP Gains As Billionbrains Garage Ventures Mainboard Offer Opens For Subscription
Pine Labs Key Details
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 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.
The bidding window for the Pine Labs IPO shuts on Tuesday, November 11. The basis of allotment 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. The company’s shares are tentatively scheduled to list on the BSE and NSE on Friday, November 14.
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 Business And Financials
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.
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.
Financials
Pine Labs Ltd. reported a 28% rise in revenue and a 57% improvement in profit after tax between the financial years ending March 31, 2024, and March 31, 2025. The company’s total income increased from Rs 1,824.16 crore in FY24 to Rs 2,327.09 crore in FY25. Its loss after tax narrowed from Rs 341.90 crore in FY24 to Rs 145.49 crore in FY25.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
