Pine Labs IPO Details
The key details of Pine Labs’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹3,899.91 Cr |
| Price Range | ₹210 - ₹221 |
| Retail Quota | 10% |
| QIB Quota | 75% |
| NII Quota | 15% |
| Employee Discount | ₹21 |
| Listing at | NSE and BSE |
| Minimum Quantity | 67 |
| Investment (cut-off price) | ₹14,807 |
| Pre IPO Promotor Holding | Update soon |
| Post IPO Promotor Holding | Update soon |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Pine Labs IPO Timelines
The IPO process for Pine Labs includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
07/11/2025
Start Date11/11/2025
End Date13/11/2025
Refund Initiation13/11/2025
Credit of Shares to Demat Ac14/11/2025
Listing DatePine Labs IPO Lot Size
The Pine Labs IPO has a fixed lot size of 67 shares, at an upper price band of ₹221 per share. For retail investors, the minimum application is 67 shares (1 lot) amounting to ₹14,807, while the maximum is 871 shares (13 lots) worth ₹1,92,491. For Small HNI (S-HNI) investors, the minimum application is 938 shares (14 lots) worth ₹2,07,298, while the maximum is 4,489 shares (67 lots) amounting to ₹9,92,069. Big HNI (B-HNI) investors need to apply for at least 4,556 shares (68 lots), totaling ₹10,06,876.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 67 | ₹14,807 |
| Retail Maximum | 13 | 871 | ₹1,92,491 |
| S-HNI Minimum | 14 | 938 | ₹2,07,298 |
| S-HNI Maximum | 67 | 4489 | ₹9,92,069 |
| B-HNI Minimum | 68 | 4556 | ₹10,06,876 |
Pine Labs IPO Subscription Status
The subscription status for Pine Labs IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 3.97x | 0.30x | 1.27x | 7.78x | 2.48x |
IPO Performance on Listing Day
On the listing day (November 14, 2025), Pine Labs made a strong debut on the stock exchange. The stock opened at ₹242, securing an impressive premium of 9.5% over its issue price of ₹221. The fintech and merchant commerce platform gained significant momentum throughout the trading session, reaching a day high of ₹284, showcasing strong investor enthusiasm for digital payment solutions. Despite some profit-booking that brought the stock down to a low of ₹234.17, the shares concluded their first trading day at ₹250.89, delivering a solid gain of 13.5% over the issue price, reflecting robust investor confidence in the fintech sector and strong market appetite for this leading merchant payment and commerce platform provider.
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹242.00 | ₹250.89 | ₹284.00 | ₹234.17 |
Pine Labs IPO Company Financials
Pine Labs reports robust performance in FY2025 with Total Income of ₹2,327.09 crores, managing expenses of [₹.] crores resulting in a loss of ₹145.49 crores, this reflects strategic investments in expansion and growth initiatives ahead of its anticipated public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹1,690.44 | ₹ | -₹265.15 |
| FY 2024 | ₹1,824.16 | ₹ | -₹341.90 |
| FY 2025 | ₹2,327.09 | ₹ | -₹145.49 |
| FY 2026 (3 M) | ₹653.08 | ₹ | ₹4.79 |
About Company
Pine Labs is a leading Indian merchant commerce platform that offers point-of-sale solutions, payment processing, and merchant financing services to businesses ranging from small retailers to large enterprises. Founded in 1998 and headquartered in Noida, the company enables merchants to accept various forms of digital payments and provides tools that enhance business efficiency. Its core offerings include smart POS devices that support card, UPI, wallet, and EMI transactions, as well as Buy Now Pay Later options that allow consumers to convert purchases into easy installments.
In addition to payment solutions, Pine Labs provides merchant financing, loyalty programs, and digital gift card services, helping brands design customer engagement and retention strategies. It also supports online commerce through APIs and payment gateway tools. As of December 31, 2024, the company had 915,731 merchants and served major consumer brands such as Amazon Pay, LG Electronics, and Flipkart, along with key financial partners like HDFC Bank, Axis Bank, and ICICI Bank. Over the years, Pine Labs has evolved from a card-based payment provider into a comprehensive fintech platform that drives India’s transition toward a cashless, digitally connected retail economy.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 1998 | Banking | Amrish Rau |
Know Before Investing
Pine Labs IPO Strengths
- Pine Labs is one of India’s leading merchant commerce platforms offering digital payment and financing services to over 900,000 merchants.
- The company provides a wide range of solutions, including smart POS devices, Buy Now Pay Later (BNPL), merchant financing, loyalty and gift cards, and e-commerce payment platforms.
- Pine Labs processed a GTV of ₹7.53 lakh crore in the first nine months of FY25, demonstrating robust transaction volumes.
- Backed by global investors such as Mastercard and PayPal, Pine Labs enjoys strong financial and strategic support.
- Operations span India, Southeast Asia, Australia, the US, and Africa, offering diversification across various markets.
- Investment in cloud infrastructure and technology development strengthens scalability and service quality.
Pine Labs IPO Risks
- Pine Labs has reported consistent losses, requiring careful management to achieve sustainable profitability.
- The fintech and payments sector faces aggressive competition, rapid technology changes, and evolving customer preferences.
- Changes in financial regulations, data privacy laws, or licensing policies could impact operations and compliance costs.
- Ongoing litigation and contingent liabilities, if materialized, may adversely affect financial health.
- A large portion of operations and revenues is concentrated in India, making the company vulnerable to local economic and regulatory changes.
- System failures, cybersecurity attacks, or platform outages could impact service continuity and reputation.
Swot Analysis for Pine Labs IPO
Strengths
Market Leadership in Merchant Payments, Comprehensive Product Ecosystem, Geographical Diversification
Weaknesses
Profitability Challenges, Competition from Deep-Pocketed Rivals, Dependence on Physical Merchants
Opportunities
Digital Payments Growth, Buy-Now-Pay-Later (BNPL) Expansion, Cross-Border Expansion
Threats
Intense Fintech Competition, Regulatory Risks, Technology Disruptions
Company Details
Pine Labs Ltd.
Unit No. 408, 4th Floor, Time Tower, MG Road, DLF QE Gurgaon, Haryana, 122002
Phone: +91 22 6986 3600
Email: cosecy@pinelabs.com
Website: http://www.pinelabs.com/
IPO Registar Details
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://ipostatus.kfintech.com/
FAQs
The key objectives of Pine Labs IPO are:
- Repayment / prepayment, in full or in part, of certain borrowings availed of by Company and certain of Subsidiaries,
- Investment in certain of Subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding presence outside India
- Investment in IT assets, expenditure towards cloud infrastructure, technology development initiatives and procurement of DCPs
- General corporate purposes and unidentified inorganic acquisitions
Axis Capital Ltd. , Morgan Stanley India Co. Pvt. Ltd. , Citigroup Global Markets India Pvt. Ltd. , JP Morgan India Pvt. Ltd. , Jefferies India Pvt. Ltd. are the book-running lead managers for the Pine Labs IPO.
Pine Labs IPO holds strong growth potential driven by its ₹7.53 lakh crore transaction volume, 915,000 merchant base, and expanding global presence. With rising digital payment adoption, government support for cashless initiatives, and ongoing innovation, the company is well positioned to benefit from India’s rapidly expanding fintech ecosystem.
The issue price for the Pine Labs IPO is set between ₹210 to ₹221 per share.
To invest in one lot of Pine Labs IPO, you need ₹14,070 at the lower price band (₹210 per share) or ₹14,807 at the upper price band (₹221 per share) for a lot size of 67 shares.
Pine Labs IPO shares are scheduled to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on November 14, 2025.
Refund/unblocking of funds for Pine Labs IPO will begin on November 13, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Pine Labs IPO shares on listing day (November 14, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.