Pine Labs came to market through an IPO that opened on 7 November 2025 and closed on 11 November 2025, and the shares listed on 14 November 2025 on BSE, NSE. The price band was ₹210 to ₹221 per share and one lot was 67 shares, so the minimum application was ₹14,807. The issue size was ₹3899.91 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Kfin Technologies Ltd was the registrar to the issue, and Axis Capital Ltd, Morgan Stanley India Co.Pvt.Ltd., Citigroup Global Markets India Pvt.Ltd., JP Morgan India Pvt.Ltd, Jefferies India Pvt.Ltd were the lead managers.
As of 11 November 2025.
| Day |
|---|
| 1 |
| 2 |
| 3 |
Pine Labs is a top Indian merchant commerce company offering point-of-sale (POS) solutions, payment processing, and financing for merchants. Established in 1998 with its headquarters in Noida, India, Pine Labs enables small, medium, and large businesses to pay and get paid through digital payment technologies and value-added services. Main Products/Services: Smart POS Devices – Accept multiple types of payments such as credit/debit cards, UPI, mobile wallets, and EMIs.
Buy Now Pay Later (BNPL) – Provides point of sale instant EMI solutions on consumer products. Merchant Financing – Provides short-term working capital financing to merchants in association with financial institutions. Loyalty and Gift Solutions – Allows brands to offer loyalty initiatives, electronic gift cards, and promotional campaigns. E-commerce and Online Payment Tools – Provides APIs and payment gateway services to enable digital stores and apps.
As on Jun 30, 2025, the company had 988,304 merchants , 716 consumer brands and enterprises, and 177 financial institutions. It has processed payments for leading consumer brands like Amazon Pay, LG Electronics, Flipkart Internet Private Limited and Redington. In the financial institutions segment, its major customer base consists of HDFC Bank, Axis Bank and ICICI Bank.
Pine Labs has grown from a card-based payment solution company to a full-fledged fintech platform, leading the charge for India's transition to a cashless, digitally empowered retail economy.
As described in the offer document.
| Metric | 30-Jun-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
|---|
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Pine Labs IPO was a ₹3,899.91 crore book-built issue, comprising a fresh issue of ₹2,080 crore and an offer for sale of ₹1,819.91 crore. It was priced at ₹210–₹221 per share with a lot size of 67 shares (₹14,807). The IPO was open from November 7 to November 11, 2025 and was subscribed 2.48x. Shares listed on BSE and NSE on November 14, 2025 at ₹242, a 9.5% premium to the issue price of ₹221.
Kfin Technologies Ltd is the registrar. Axis Capital Ltd. and 4 other book running lead managers manage the issue.
The price band of Pine Labs IPO is ₹210 to ₹221 per share.
The lot size of Pine Labs IPO is 67 shares.
The minimum investment for Pine Labs IPO is approximately ₹14,807 based on the upper price band.
The allotment date of Pine Labs IPO is Nov 12, 2025.
Pine Labs IPO's final recorded GMP before listing was ₹4 per share (a 2% premium over the ₹221 upper price band). The shares listed at ₹242. GMP is unofficial and does not forecast or guarantee the actual listing price.
Pine Labs IPO listed on Nov 14, 2025. It was issued at ₹242.0(NSE) and is currently around ₹156.90 as on 2-Nov-2026 3:30 PM, which is approximately -29.0% versus issue price. The 52-week high is ₹284.00.
You can check Pine Labs IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Pine Labs IPO allotment status on Rupix for quick and easy access.
₹210 to ₹221 per share, against a face value of ₹1. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 67 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,807.
₹14,807, for one lot of 67 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 7 November 2025 and closed on 11 November 2025.
The basis of allotment was published on 12 November 2025 by Kfin Technologies Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 14 November 2025 on BSE, NSE.
The issue size was ₹3899.91 crore. The fresh issue was 9,41,17,647 shares (aggregating up to ₹2080 crore). The offer for sale was 8,23,48,779 shares (aggregating up to ₹1819.91 crore).