Pine Labs IPO Day 3 LIVE Updates: Pine Labs IPO subscription status was 54% by the second day of its share sale on Monday, November 10. The company’s IPO, valued at ₹3,900 crore, is set to close today, Tuesday, November 11. Pine Labs IPO price band has been fixed in the range of ₹210-221 per share, aiming for a Pine Labs IPO valuation exceeding ₹25,300 crore. Pine Labs IPO GMP today or grey market premium was ₹0.
Pine Labs IPO includes a fresh share issue valued at ₹2,080 crore, alongside an offer for sale (OFS) of over 8.23 crore equity shares, which is estimated at ₹1,819.9 crore at the upper price band, provided by existing shareholders.
The funds raised from the fresh share issue will be utilized by the company to pay off debt, invest in IT assets, cover costs related to cloud infrastructure, develop technology initiatives, and acquire digital checkout points.
Based in Noida, Pine Labs is a technology firm aimed at enhancing commerce through digital payment solutions and issuance services for merchants, consumer brands, enterprises, and financial institutions.
Its technological framework facilitates digital transactions and payment processing in India and several other international regions, including Malaysia, the UAE, Singapore, Australia, the US, and various parts of Africa.
(Stay tuned for more updates)
