Pine Labs IPO [Initial Public Offering] is a book build issue of 17,64,66,426 shares [₹3,899.91 crore]. The issue is a combination of a fresh issue of 9,41,17,647 shares [₹2,080.00 crore] and an offer for sale of 8,23,48,779 shares [₹1,819.91 crore].
The Pine Labs IPO will open for subscription on November 07, 2025, and close on November 11, 2025. The Pine Labs IPO allotment is expected to be finalized on November 12, 2025, while the shares are scheduled to be listed on the BSE and NSE on November 14, 2025.
The price band for the Pine Labs IPO is fixed at ₹210 to ₹221 per share. The minimum application size is 1 lots [67 shares], requiring a retail investor to invest at least ₹14,807 [based on the upper price band]. For S-HNI investors, the minimum application size is 14 lots [938 shares] worth ₹2,07,298, while for B-HNI investors, it is 68 lots [4,556 shares] worth ₹10,06,876.
Pine Labs IPO Details
| Open Date | November 07, 2025 |
| Close Date | November 11, 2025 |
| Issue Type | Book Built Issue |
| Face Value | ₹1 Per Equity Share |
| Price Band | ₹210 – ₹221 Per Share |
| Listing On | BSE, NSE |
| Issue Size | ₹3,899.91 Cr. [17,64,66,426 Shares] |
| Fresh Issue | ₹2,080.00 Cr. [9,41,17,647 Shares] |
| Offer For Sale | ₹1,819.91 Cr. [8,23,48,779 Shares] |
| Employee Discount | ₹21.00 |
| Prospectus | DRHP | RHP | Anchor Investors |
Pine Labs IPO Reservation
| Category | Reservation | Shares Offered |
|---|---|---|
| QIB | 75.00% | — |
| NII | 15.00% | — |
| RII | 10.00% | — |
| Total | 100.00% | — |
Pine Labs IPO Market Lot
| Application | Lot | 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 | 4,489 | ₹9,92,069 |
| B- HNI Minimum | 68 | 4,556 | ₹10,06,876 |
Key Performance Indicator
| KPI | Value |
| Market Capitalisation | — |
| P/E Ratio | — |
| EPS | ₹-1.38 |
| ROE | — |
| ROCE | — |
| RoNW | -4.15% |
| Dept/Equity | — |
| EBITDA Margin | 15.68% |
| PAT Margin | — |
| Net Assets Value | — |
| Price To Book Value | — |
Pine Labs IPO Peer Comparison
| Company | P/E | EPS | RoNW | NAV |
| One97 Communications (Paytm) | -110.98x | ₹-10.35 | -4.69% | ₹235.54 |
| Zaggle Prepaid Ocean Services (Zaggle) | 48.87x | ₹6.99 | 9.64% | ₹99.25 |
| Adyen N.V. | 46.23x | ₹3,058.07 | 25.06% | ₹13,987.40 |
| Shopify Inc. | 96.50x | ₹133.45 | 19.58% | ₹761.60 |
| Block Inc | 16.10x | ₹399.50 | 14.51% | ₹2,925.70 |
| Marqeta Inc | 101.20x | ₹4.25 | 2.34% | ₹180.20 |
Pine Labs IPO Dates
| Open Date | November 07, 2025 |
| Close Date | November 11, 2025 |
| Allotment Date | November 12, 2025 |
| Refund Date | November 13, 2025 |
| Share Credit Date | November 13, 2025 |
| Listing Date | November 14, 2025 |
Pine Labs Limited Company Financial Report
| Years | Assets | Income | Expenses | Net Worth | PAT | Borrow |
|---|---|---|---|---|---|---|
| June 2025 | ₹10,904.32 Cr. | ₹653.08 Cr. | ₹1,238.41 Cr. | ₹2,327.55 Cr. | ₹4.79 Cr. | ₹888.74 Cr. |
| March 2025 | ₹10,715.74 Cr. | ₹2,327.09 Cr. | ₹1,622.80 Cr. | ₹-2,244.27 Cr. | ₹-145.49 Cr. | ₹829.49 Cr. |
| March 2024 | ₹9,648.56 Cr. | ₹1,824.16 Cr. | ₹1,402.39 Cr. | ₹-2,035.24 Cr. | ₹-341.90 Cr. | ₹532.92 Cr. |
| March 2023 | ₹9,363.21 Cr. | ₹1,690.44 Cr. | ₹1,032.43 Cr. | ₹-1,764.77 Cr. | ₹-265.15 Cr. | ₹329.51 Cr. |
Company Promoters :
- Update Soon
| Holding Pre Issue | — | 1,05,41,46,853 Shares |
| Holding Post Issue | — |
Pine Labs IPO Lead Managers
- Axis Capital Limited
- Morgan Stanley India Company Private Limited
- Citigroup Global Markets India Private Limited
- J.P. Morgan India Private Limited
- Jefferies India Private Limited
Pine Labs IPO Registrar
KFin Technologies Limited
Selenium Tower-B, Plot No. 31 and 32,
Financial District Nanakramguda,
Serilingampally, Hyderabad – 500 032,
Telangana, India
Tel: +91 40 6716 2222/18003094001
E-mail: pinelabs.ipo@kfintech.com
Website: www.kfintech.com
About The Company
Founded in 1998, Pine Labs Limited has grown into one of India’s most trusted and innovative merchant commerce platforms. The company offers a comprehensive range of digital payment and financial solutions that cater to both small businesses and large enterprises. Over the years, Pine Labs has transformed how merchants accept payments, manage transactions, and access financing — playing a key role in India’s transition to a cashless economy.
Its smart POS devices enable merchants to accept multiple forms of payments including credit and debit cards, UPI, mobile wallets, and EMI options. The company’s Buy Now Pay Later (BNPL) service allows consumers to instantly convert purchases into easy installments, while its merchant financing program provides working capital loans in partnership with leading banks and financial institutions. Additionally, Pine Labs supports businesses with digital loyalty programs, gift card solutions, and online payment APIs that power e-commerce platforms and apps.
As of June 30, 2025, the company has established partnerships with over 988,000 merchants, 716 consumer brands, and 177 financial institutions. Its client base includes well-known names such as Amazon Pay, LG Electronics, Flipkart, Redington, HDFC Bank, Axis Bank, and ICICI Bank.
From its beginnings as a card-based transaction provider, Pine Labs has evolved into a complete fintech ecosystem, seamlessly connecting merchants, brands, and financial partners through its scalable, cloud-based infrastructure. With a strong leadership team and deep industry expertise, Pine Labs continues to drive innovation in digital commerce and empower India’s growing retail economy.
Objects Of The Issue
- Repayment / prepayment, in full or in part, of certain borrowings availed of by our Company and certain of our Subsidiaries,
- Investment in certain of our Subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding our 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
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: cosecy@pinelabs.com
Website: www.pinelabs.com
Pine Labs IPO FAQs
What are the open and close dates of the Pine Labs IPO?
The Pine Labs IPO will open on November 07, 2025 and will close on November 11, 2025.
What is the price band for Pine Labs IPO?
The price band for the Pine Labs IPO is fixed at ₹210 to ₹221 per share.
What is the lot size of the Pine Labs IPO?
Investors can apply for a minimum of 67 shares per lot and in multiples thereafter.
How can retail investors apply for the Pine Labs IPO?
Retail investors can apply through UPI-based ASBA (Application Supported by Blocked Amount) via their bank or stock broker’s platform.
What is the issue size of the Pine Labs IPO?
The total issue size of Pine Labs IPO is ₹3,899.91 Cr., comprising both fresh issue and offer for sale (if applicable).
When will the basis of allotment for the Pine Labs IPO be finalized?
The basis of allotment is expected to be finalized on November 12, 2025.
How can I check the allotment status of the Pine Labs IPO?
Investors can check their allotment status on the official registrar’s website once it is announced.
When will the shares of Pine Labs IPO get listed?
The shares are expected to be listed on the BSE and NSE on November 14, 2025.
Is the Pine Labs IPO a good investment?
Investment decisions depend on an individual’s financial goals and risk profile. It is advised to consult with a SEBI-registered financial advisor before making any investment decision.
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| Pine Labs IPO Allotment |
Disclaimer: Readers are strongly advised to seek guidance from a qualified financial advisor before making any investment decisions. Relying solely on the content presented here for financial choices is done entirely at the reader’s own risk.
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