Pine Labs IPO Day 1 LIVE Updates: Issue Receives 0.13x Subscription, Retail Quota Booked Over 50%

Pine Labs IPO GMP Today, Price, Allotment & Listing Date: Fintech firm Pine Labs on Friday launched its initial public offering (IPO) to raise Rs 3,899.91 crore. The IPO, whose price has been fixed at Rs 210-221 apiece, will be closed on Tuesday, November 11. The company raised Rs 1,754 crore from anchor investors on Thursday, a day before the IPO.

The anchor book saw participation from 71 funds, including Franklin Templeton, Nomura, Morgan Stanley Asia Singapore Pte Ltd, Amundi Funds New Silk Road, Massachusetts Institute of Technology, BNP Paribas and Eastspring Investments, according to a circular uploaded on BSE’s website.

Pine Labs IPO GMP Today

According to market observers, unlisted shares of Pine Labs are currently trading at Rs 233 apiece in the grey market, which is a 5.43% premium (or GMP) at Rs 12 over the upper IPO price of Rs 221, indicating mild listing gains for investors.

The GMP was nearly 16% last week.

The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Pine Labs IPO: Should You Apply?

Brokerages have given a mixed response to the Pine Labs IPO, with views split between long-term optimism and near-term caution. While some see strong potential in its business model, others find the valuation steep given its loss-making status.

Cautious Voices

Arihant Capital advised investors to avoid the issue, citing losses at the PAT level and high employee and technology costs. Swastika Investmart also suggested avoiding the IPO for now, calling it “aggressively valued” with limited short-term visibility. Angel One rated it neutral, noting that the company remains loss-making and trades at a premium to peers on an EV/EBITDA basis, while warning of risks like regulatory uncertainty and intense competition.

Long-Term Optimism

On the other hand, SBI Securities gave a ‘subscribe for long-term’ rating, citing Pine Labs’ strong network of 9.8 lakh merchants and Rs 276 trillion market opportunity by FY29. It said the firm is well placed to deliver profitable growth. IDBI Capital also recommended ‘subscribe for long-term’, highlighting Pine Labs’ Rs 11,424.97 billion transaction volume in FY25 and its strategic acquisitions that strengthen its digital infrastructure ecosystem.

Pine Labs IPO: Opening, Closing, Allotment, Listing Dates

The IPO was opened on November 7 and will be closed on November 11. Its allotment will be finalised on November 12, while the stock listing is scheduled to take place on November 14 on both BSE and NSE.