Pine Labs IPO : All you Need to know
Pine Labs IPO Details
The Pine Labs IPO will open on 07 Nov 2025- 11 Nov 2025. The Total issue size of IPO is ₹3,899.91 cr. which includes Fresh Issue and OFS (Offer For Sale)
- IPO Price Band: ₹210-₹221 Per Share
- Lot Size: 67 shares
- Minimum Investment (Retail): ₹14,070 – ₹14,807/-
- Allotment Date: 12 Nov 2025
- Listing Date: 14th Nov 2025 on NSE and BSE
| Details | Information |
| IPO Open Date | 7 Nov 2025 |
| IPO Close Date | 11 Nov 2025 |
| Price Band | ₹210-₹221 Per Share |
| Lot Size | 67 shares |
| Face Value | ₹1 per share |
| Minimum Investment | ₹14,070 – ₹14,807/- |
| Issue Size | ₹3,899.91 cr. |
| Allotment Date | 12 Nov 2025 |
| Listing Date | 14 Nov 2025 on NSE and BSE |
| Pine Labs IPO GMP | 19-20 (9%) |
Pine Labs IPO Issue Size
The Pine Labs Ltd. IPO will open for subscription on 07 November 2025 to 11 November 2025. The Company wiill planning to raise ₹3,899.91 cr through this public issue, which includes Fresh Issue and OFS (Offer For Sale)
- Fresh Issue: ₹2,080 cr (9,41,17,647 shares) funds raised here will go directly into the company for expansion, debt repayment, and working capital needs.
- Offer For Sale: ₹1,819.91cr. (8,23,48,779 shares ) existing shareholders will sell part of their stake, but the proceeds will not go to the company.
Pine Labs Ltd. IPO Lot Size
Investors can apply for the IPO in lots. The Pine Labs Ltd. IPO Lot Size is fixed at 67 shares per lot.
Below is the table showing lot size details for Retail Investors and **HNIs (High Net Worth Individuals):
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 67 | ₹14,807 |
| Retail (Max) | 13 | 871 | ₹1,92,491 |
| S-HNI (Min) | 14 | 938 | ₹2,07,298 |
| S-HNI (Max) | 67 | 4,489 | ₹9,92,069 |
| B-HNI (Min) | 68 | 4,556 | ₹10,06,876 |
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Pine Labs IPO Prospectus
Pine Labs IPO Reservation
The IPO shares are divided among different investor categories. Here is the Pine Labs Ltd. IPO reservation (quota) details:
| Investor Category | Reservation % | Shares Offered |
| QIB (Qualified Institutional Buyers) | 75% of the issue | Anchor Investor Share Offered-79353632 (45%) QIB-52902428 (30%) |
| NII / HNI (Non-Institutional Investors) | 15% of the issue | 26451214 (14.99%) bNII < ₹10L-17634400 (10%) sNII < ₹10L-8817200 (NA%) |
| Retail Investors | 10% of the issue | 17634143 (9.99%) |
| Employee | 125000 (0.07%) |
How to Apply for Pine Labs Ltd. IPO
Applying for the Pine Labs IPO is simple. You can apply through your demat account, net banking (ASBA), or brokerage app like Zerodha, Upstox, Groww, Angel One, ICICI Direct, etc.
Step-by-Step Guide
- Login to Your Demat Account
- Open your broker app (like Zerodha, Groww, Upstox) or net banking (like HDFC, ICICI, SBI).
- Go to IPO Section
- Look for the “IPO” tab or “Current Issues” option.
- Select
- Click on Pine Labs Ltd. IPO Apply option.
- Choose Your Category & Lot Size
- Retail Investor: Minimum 1 lot = 67 shares.
- HNI (sHNI/bHNI): Higher multiples (check the Pine Labs IPO lot size table above).
- Enter Bid Price
- You can bid at the cut-off price (safest option) or enter a price within the band ₹210 – ₹221
- Confirm & Submit
- Enter your UPI ID (if using UPI) and approve the mandate on your UPI app.
- For ASBA (net banking), the amount will be a blocked in your bank account.
- IPO closes on 11 November 2025.
- Allotment date: 12 November2025
- Check status on kFin Technologies Limited
Pine Labs IPO Objective
- Repayment / prepayment, in full or in part, of certain borrowings availed of by our Company and certain of our Subsidiaries.- ₹532.00cr.
- Investment in certain of our Subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding our presence outside India.-₹60cr.
- Investment in IT assets, expenditure towards cloud infrastructure, technology development initiatives and procurement of DCPs.-₹760cr.
- General corporate purposes and unidentified inorganic acquisitions.
Pine Labs Ltd. Promotors Holding
| Description | Percentage (%) |
| Promoter Holding Pre-Issue | – |
| Promoter Holding Post-Issue | – |
Key Performance Indicators
for Pine Labs IPO
| KPI | Value |
| Return on Capital Employed (ROCE) | – |
| EBITDA Margin | 15.68% |
| Price to Earning (P/E) Pre IPO | – |
| Return on Net Worth (RoNW) | -4.15% |
| PAT Margin (%) | – |
| Return On Equity (ROE) | – |
| Debt/Equity | – |
| Price to Book Value (P/BV) | – |
Pine Labs IPO Registrar and Lead Managers
Pine Labs Ltd. IPO Lead Managers.
- Axis Capital Ltd
Morgan Stanley India Co.Pvt.Ltd.
Citigroup Global Markets India Pvt.Ltd.
JP Morgan India Pvt.Ltd
Jefferies India Pvt.Ltd.
Pine Labs Ltd. IPO Registrar
Kfin Technologies Limited
04067162222, 04079611000
Pine Labs Ltd. Financial (in Crs)
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 10,904.32 | 10,715.74 | 9,648.56 | 9,363.21 |
| Revenue | 653.08 | 2,327.09 | 1,824.16 | 1,690.44 |
| Profit After Tax | 4.79 | -145.49 | -341.90 | -265.15 |
| EBITDA | 120.56 | 356.72 | 158.20 | 196.80 |
| NET Worth | 2,327.55 | -2,244.27 | -2,035.24 | -1764.77 |
| Reserves and Surplus | ||||
| Total Borrowing | 888.74 | 829.49 | 532.92 | 329.51 |
About Pine Labs Ltd. Company
Incorporated in 1998.Pine Labs is an Indian fintech / merchant-commerce company.
It provides solutions to merchants, including point-of-sale (POS) terminals, payment acceptance infrastructure, and value-added services such as loyalty cards, gift-cards, etc.
The firm is headquartered in India (Noida) though earlier it had a Singapore entity; recently it got regulatory approval for a “reverse flip” (merging its Singapore parent into its Indian entity) to domicile wholly in India.
They aim also to service banks, fintechs and corporate customers (not just small merchants) via their technology stack.
Business model & market opportunity
- The “big idea”: as digital payments expand in India and across Asia/Middle East, merchants need infrastructure (hardware + software) to accept payments, manage inventory, loyalty – Pine Labs provides that.
- Merchant commerce business: POS terminals + software + platform services. Once deployed, there’s potential for recurring revenue (e.g., transaction fees, value-added services).
- Market tailwinds: Digitisation of payments in India, regulatory push for cashless/less-cash, increasing acceptance among smaller merchants, growth of “Buy Now Pay Later”, etc.
- Expansion internationally (Southeast Asia, Middle East) is part of their strategy.
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