Mumbai: Pine Labs is set to raise Rs 3,899.91 crore through its IPO, which will open on November 7 and close on November 11. The issue comprises 9.41 crore shares worth Rs 2,080 crore and 8.23 crore Offer-for-Sale shares valued at Rs 1,819.91 crore. The company has announced a price band of Rs 210–221 per share, with a lot size of 67 shares. Retail investors will need to invest a minimum of Rs 14,807.
Grey Market Buzz
As soon as the price band was announced, the grey market premium (GMP) surged to approximately 16 percent. According to market sources, Pine Labs’ IPO GMP stands at Rs 35 per share in the unlisted market, roughly 15.8 percent higher than the cap price. This reflects strong investor interest and indicates a positive listing trend. However, GMP is only indicative and may fluctuate rapidly.
Use of IPO Proceeds
Pine Labs plans to deploy the IPO funds across multiple strategic areas. Around Rs 532 crore will go toward repaying existing loans of the company and its subsidiaries, easing the debt burden and strengthening its financial position.
Additionally, approximately Rs 60 crore will be invested in international units, including Qwikcilver (Singapore), Pine Payment Solutions (Malaysia), and Pine Labs UAE.
The company will also invest around Rs 760 crore in IT infrastructure, cloud systems, technology development, and device procurement (DCPs) to enhance its technical framework. A portion of the proceeds will be reserved for general corporate purposes and potential future acquisitions for inorganic growth.
Company Profile
Founded in 1998, Pine Labs is India’s leading merchant commerce platform, providing point-of-sale (POS) services, payment processing, and merchant financing solutions. The company serves businesses of all sizes, offering digital payments and value-added services.
Pine Labs’ smart POS machines support card, UPI, wallet, and EMI payments. The company also provides Buy Now Pay Later (BNPL) services, short-term loans to merchants, digital gift cards, and loyalty programs. For e-commerce businesses, it offers payment gateways and API solutions.
As of June 30, 2025, Pine Labs has partnered with over 988,000 merchants, 716 consumer brands/enterprises, and 177 financial institutions. Key clients include Amazon Pay, LG, Flipkart, HDFC Bank, Axis Bank, and ICICI Bank.
From starting with card-based payments, Pine Labs has evolved into a comprehensive fintech platform, playing a crucial role in India’s transition toward a cashless and digital economy.
Disclaimer: The information provided is for informational purposes only and does not constitute financial advice. Investors should conduct their own research and consult a certified financial advisor before making investment decisions.
