Pine Labs, a leading Indian merchant commerce and fintech platform, is launching its Initial Public Offering (IPO) on November 7, 2025. The IPO will remain open for subscription until November 11, 2025. The company aims to raise approximately ₹3,900 crores through a book-built issue, which includes a fresh issue of ₹2,080 crores and an offer for sale (OFS) of up to 8.23 crore equity shares.
This article provides a detailed breakdown of the Pine Labs IPO, covering its price band, timeline, financial performance, and an essential review for potential investors.
Pine Labs IPO: Key Details at a Glance
| IPO Open Date | November 7, 2025 |
| IPO Close Date | November 11, 2025 |
| Price Band | ₹210 to ₹221 per share |
| Lot Size | 67 Shares |
| Total Issue Size | Approx. ₹3,899.91 Crores |
| Listing On | BSE, NSE |
| IPO Registrar | KFin Technologies Limited |
| Allotment Date | November 12, 2025 |
| Listing Date | November 14, 2025 |
Pine Labs IPO Timeline
Investors should mark these important dates for the Pine Labs public offering.
| IPO Bidding Starts | November 7, 2025 |
| IPO Bidding Ends | November 11, 2025 |
| Basis of Allotment Finalization | November 12, 2025 |
| Initiation of Refunds | November 13, 2025 |
| Credit of Shares to Demat Account | November 13, 2025 |
| IPO Listing Date | November 14, 2025 |
Pine Labs IPO Lot Size and Investment Amount
The minimum investment for retail investors is one lot of 67 shares.
| Application | Lots | Shares | Amount (at Cut-off Price ₹221) |
|---|---|---|---|
| Retail Minimum | 1 | 67 | ₹14,807 |
| Retail Maximum | 13 | 871 | ₹192,491 |
| S-HNI Minimum | 14 | 938 | ₹207,298 |
| B-HNI Minimum | 68 | 4,556 | ₹1,006,876 |
About Pine Labs
Established in 1998, Pine Labs has grown into a leading merchant commerce platform, offering a wide array of fintech solutions. Its services include Point-of-Sale (POS) devices, payment processing, Buy Now Pay Later (BNPL) options, merchant financing, and loyalty programs. Headquartered in Noida, the company serves businesses of all sizes, from small merchants to large enterprises. As of December 2024, Pine Labs serves over 915,000 merchants and counts major brands like Amazon Pay, Flipkart, and leading banks like HDFC, ICICI, and Axis Bank among its key customers.
Financial Performance of Pine Labs
The company has demonstrated strong revenue growth and has successfully reduced its losses over the past year, indicating a move towards profitability.
| Period Ended | Revenue (in ₹ Crores) | Profit/Loss After Tax (in ₹ Crores) |
|---|---|---|
| 2023 | 1,690.44 | -265.15 |
| 2024 | 1,824.16 | -341.90 |
| 2025 | 2,327.09 | -145.49 |
Objects of the Issue
The funds raised from the fresh issue will be utilized for:
- Repayment or prepayment of certain borrowings.
- Investment in subsidiaries for international expansion.
- Investment in IT assets, cloud infrastructure, and technology development.
- General corporate purposes and funding potential inorganic acquisitions.
Pine Labs IPO Review: Should You Subscribe?
Strengths
- Leading Market Position: A dominant player in the Indian merchant payments and POS solutions space.
- Diversified Product Portfolio: Offers a comprehensive suite of services including payments, BNPL, loyalty, and financing.
- Strong Client Base: Long-standing relationships with leading banks, brands, and a vast network of merchants.
- Improving Financials: Strong revenue growth and a significant reduction in losses showcase improving operational efficiency.
Risks
- No Identifiable Promoter: The company is professionally managed and does not have an identifiable promoter.
- Highly Competitive Industry: Operates in the competitive fintech and digital payments sector.
- History of Losses: While losses are narrowing, the company has a history of not being profitable.
Pine Labs IPO GMP (Grey Market Premium)
The Grey Market Premium (GMP) for the Pine Labs IPO provides an early indication of the potential listing price. GMP details will be available once trading commences in the grey market. For the latest figures, please visit our live IPO GMP page.
How to Check Pine Labs IPO Allotment Status
The allotment for the Pine Labs IPO will be finalized on November 12, 2025. Investors can check their status through the official registrar, KFin Technologies Limited.
- Visit the KFintech IPO Status page: https://kfintech.com/ipostatus/
- Select “Pine Labs Limited” from the IPO dropdown menu.
- Enter your Application Number, Demat Account number, or PAN.
- Enter the captcha code and click “Submit” to view your status.
- You can also check the status on the BSE and NSE websites.
Pine Labs IPO FAQs
What is the Pine Labs IPO?
Pine Labs IPO is a mainboard issue aiming to raise ₹3,899.91 Crores. The shares are priced between ₹210 and ₹221 and will be listed on both BSE & NSE.
When does the Pine Labs IPO open for subscription?
The IPO subscription period is from November 7, 2025, to November 11, 2025.
What is the minimum investment for the Pine Labs IPO?
The minimum bid is for one lot of 67 shares, which amounts to ₹14,807 at the upper price band.
How do I apply for the Pine Labs IPO?
You can apply via ASBA through your bank’s net banking portal or through your stockbroker’s trading application using UPI.
When will the Pine Labs IPO shares be allotted and listed?
The allotment is expected on November 12, 2025, and the listing is scheduled for November 14, 2025.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors are advised to consult with their financial advisors before investing. All information is based on the company’s DRHP/RHP. For regulatory details, visit the official SEBI website.