Updated 11 November 2025 at 12:25 IST
Pine Labs IPO: Check GMP, Subscription Status, Key Dates & Key Highlights
Fintech firm Pine Labs’ ₹3,900 crore IPO closes today with muted investor interest, subscribing only 54% by Day 2. The grey market premium (GMP) remains at ₹0, indicating a flat listing expectation. Analysts say valuation concerns and weak market sentiment may have dampened enthusiasm for the much-anticipated fintech offering.
Fintech company Pine Labs is witnessing subdued investor participation in its ₹3,899.91 crore initial public offering (IPO), which closes for subscription today, November 11, 2025.
The issue comprises a fresh issue of 9.41 crore shares worth ₹2,080 crore and an offer for sale (OFS) of 8.23 crore shares aggregating ₹1,819.91 crore.
Pine Labs IPO Subscription Status
As per the latest subscription data, by the end of Day 2, the IPO was subscribed to only 54%, receiving bids for 5.31 crore shares against the 9.78 crore shares on offer. Market observers note that retail investors have shown limited enthusiasm despite Pine Labs’ strong presence in India’s digital payments ecosystem.
Pine Labs IPO GMP Today
According to market tracker websites, the Pine Labs IPO grey market premium (GMP) stands at ₹0 as of November 11, 2025, 09:57 AM. With a price band of ₹221 per share, the estimated listing price is also ₹221, indicating no expected premium or discount.
Listing and Allotment Details
The IPO allotment is expected to be finalised on November 12, 2025, with shares slated to list on BSE and NSE on November 14, 2025. Axis Capital Ltd. is the book-running lead manager, while Kfin Technologies Ltd. serves as the registrar to the issue.
About Pine Labs
Founded in 1998, Pine Labs is one of India’s leading merchant commerce platforms, offering point-of-sale (POS) solutions, payment processing, and merchant financing services.
The company’s key offerings include:
Smart POS Devices: Accepting cards, UPI, wallets, and EMIs.
Buy Now Pay Later (BNPL): Instant EMI options for consumers.
Merchant Financing: Short-term working capital loans in partnership with financial institutions.
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Published By : Priya Pathak
Published On: 11 November 2025 at 12:25 IST