Pine Labs IPO price band has been fixed in the range of ₹210 to ₹221 per equity share of the face value of Re 1. The Pine Labs IPO date of subscription is scheduled for Friday, November 7, and will close on Tuesday, November 11. The allocation to anchor investors for the Pine Labs IPO is scheduled to take place on Thursday, November 6.
The floor price is 210 times the face value of the equity shares, and the cap price is 221 times the face value of the equity shares. The Pine Labs IPO lot size is 67 equity shares and in multiples of 67 equity shares thereafter.
Pine Labs IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employees has been reserved equity shares worth up to ₹25 million. A discount of ₹21 per equity share is being offered to eligible employees.
Tentatively, Pine Labs IPO basis of allotment of shares will be finalised on Wednesday, November 12, and the company will initiate refunds on Thursday, November 13, while the shares will be credited to the demat account of allottees on the same day following refund. Pine Labs share price is likely to be listed on BSE and NSE on Friday, November 14.
Pine Labs IPO details
The offering comprises of fresh issue of shares valued at ₹2,080 crore, along with the divestment of approximately 8.23 crore shares by the founder and current investors.
As part of the Offer for Sale (OFS), several entities including Peak XV Partners, the London-based Actis, PayPal, Mastercard Asia/Pacific, Temasek via Macritchie Investments, Invesco, Madison India Capital, MW XO Digital Finance Fund Holdco, Lone Cascade LP, Sofina Ventures S.A., and Lokvir Kapoor, co-founder of Pine Labs, will sell their shares in the fintech company.
The company intends to utilize the proceeds from the new share issue for debt repayment, investments in IT assets, expenses related to cloud infrastructure, technology development projects, and acquiring digital checkout points.
Additionally, the funds will be allocated for investments in its subsidiaries such as Qwikcilver Singapore, Pine Payment Solutions in Malaysia, and Pine Labs in the UAE to enhance its international presence.
Initially, the firm aimed to raise ₹2,600 crore through a new issue, alongside an OFS component of up to 14.78 crore shares from current shareholders, according to the draft documents submitted in June.
Axis Capital, Morgan Stanley India Company, Citigroup Global Markets India, JP Morgan India, and Jefferies India serve as the book running lead managers, while KFin Technologies acts as the registrar for the IPO.
Company details
Pine Labs, a technology firm based in Noida, is dedicated to enhancing commerce through digital payment solutions tailored for merchants, consumer brands, enterprises, and financial institutions.
Its technological framework facilitates digital transactions and payment processing not only in India but also in several international regions, including Malaysia, the UAE, Singapore, Australia, the US, and parts of Africa.
As per the Redseer Report, in FY2025, the company emerged as the top issuer of closed and semi-closed loop gift cards in India based on transaction value. Additionally, it was recognized as a key facilitator of digital affordability at online checkout points, ranked among the top five in-store digital platforms, and served as a significant processor for Bharat Connect transactions during that year.
In FY25, the total payments processed by the company amounted to ₹11.42 lakh crore in gross transaction value (GTV) over 5.68 billion transactions. In the domestic market, it faces competition from Paytm, Razorpay, Infibeam, PayU Payments, and PhonePe, while internationally, it competes with Adyen, Shopify, and Block.
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