Pine Labs IPO Details
| IPO Open Date: | November 7, 2025 |
| IPO Close Date: | November 11, 2025 |
| Face Value: | ₹1 Per Equity Share |
| IPO Price Band: | ₹210 to ₹221 Per Share |
| Issue Size: | Approx ₹3,899.91 Crores |
| Fresh Issue: | Approx ₹2,080 Crores |
| Offer for Sale: | Approx 8,23,48,779 Equity Shares |
| Issue Type: | Book Build Issue |
| IPO Listing: | BSE & NSE |
| DRHP Draft Prospectus: |  |
| RHP Draft Prospectus: | |
Pine Labs IPO Review & Key Points
- Review:
Pine Labs IPO Market Lot
The Pine Labs IPO minimum market lot is 67 shares with ₹14,807 application amount. The retail investors can apply up-to 13 lots with 871 shares of ₹1,92,491 amount.
| 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 |
| B-HNI Minimum | 68 | 4,556 | ₹10,06,876 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | 5,28,97,083 Shares | 75% |
| NII Shares Offered | 2,64,51,214 Shares | 15% |
| Retail Shares Offered | 1,76,34,143 Shares | 10% |
Pine Labs IPO Anchor Investors
| Anchor Bidding Date | November 6, 2025 |
| Anchor Investors List | |
| Shares Offered | 7,93,58,986 Shares |
| Anchor Size | 1,753.83 Cr. |
| lock-in period end date 50% shares (30 Days) | December 12, 2025 |
| lock-in period end date 50% shares (90 Days) | February 10, 2026 |
Pine Labs IPO Dates
The Pine Labs IPO date is November 7 and the close date is November 11. The Pine Labs IPO allotment will be finalized on November 12 and the IPO listing on November 14.
| IPO Open Date: | November 7, 2025 |
| IPO Close Date: | November 11, 2025 |
| Basis of Allotment: | November 12, 2025 |
| Refunds: | November 13, 2025 |
| Credit to Demat Account: | November 13, 2025 |
| IPO Listing Date: | November 14, 2025 |
| IPO Bidding Cut-off Time: | November 11, 2025 – 5 PM |
Promoters and Holding Pattern
- Our Company Does Not Have An Identifiable Promoter.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,05,41,46,853 | -% |
| Promoter Holding Post Issue | 1,14,82,64,500 | -% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Repayment / prepayment, in full or in part, of certain borrowings availed of by our Company and certain of our Subsidiaries, | ₹870 |
| Investment in certain of our Subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding our presence outside India | ₹60 |
| Investment in IT assets, expenditure towards cloud infrastructure, technology development initiatives and procurement of DCPs | ₹760 |
| General corporate purposes and unidentified inorganic acquisitions | – |
About Pine Labs IPO
Incorporated in 1998, Pine Labs is one of the growing Indian merchant commerce companies that offers point-of-sale (POS) solutions, payment processing, and merchant financing services. Its headquarters are situated in Noida, India, the company supports businesses of all sizes that including small to large businesses, with digital payment technologies and services. The company’s portfolio consists of a wide range of offerings such as Smart POS Devices, Buy Now Pay Later (BNPL), Merchant Financing, Loyalty and Gift Solutions, and E-commerce and Online Payment Tools. The company includes 915,731 merchants as of December 31, 2024, serving major consumer brands such as Amazon Pay, LG Electronics, Flipkart Internet Private Limited, and Redington. Moreover, HDFC Bank, Axis Bank, and ICICI Bank are the key customers of the company. The company started its business to grow from just a card payment service provider into a full fintech platform serving India to become a digital and cash-free shopping system.
Pine Labs IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹1,690.44 | ₹1,032.43 | ₹265.15 | ₹9,363.21 |
| 2024 | ₹1,824.16 | ₹1,402.39 | ₹341.90 | ₹9,648.56 |
| 2025 | ₹2,327.09 | ₹1,622.80 | ₹145.49 | ₹10,715.74 |
| June 2025 | ₹653.08 | ₹1,238.41 | ₹4.79 | ₹10,904.32 |
Pine Labs IPO Valuation – FY2025
Check Pine Labs IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | -% |
| ROCE: | -% |
| EBITDA Margin: | -% |
| PAT Margin: | -% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ₹(1.45) (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | (4.15)% |
| Net Asset Value (NAV): | ₹(22.43) |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| One97 Communications Limited | (10.35) | (110.98) | (4.69) | 235.54 | 6,900.40 Cr. |
| Zaggle Prepaid Ocean Services Limited | 6.99 | 48.87 | 9.64 | 99.25 | 1,303.76 Cr. |
IPO Lead Managers aka Merchant Bankers
- Axis Capital Limited
- Morgan Stanley India Company Pvt Ltd
- Citigroup Global Markets India Private Limited
- J.P. Morgan India Private Limited
- Jefferies India Private Limited
Company Address
Pine Labs Limited
Unit No. 408,
4th Floor, Time Tower,
MG Road, DLF QE
Gurgaon, Haryana, 122002
Phone: +91 22 6986 3600
Email: [email protected]
Website: http://www.pinelabs.com/
IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://ipostatus.kfintech.com/
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Note: The Pine Labs IPO price band and date are officially announced. The (Pine Labs IPO grey market premium) will be added to the IPO GMP page as it will start).
