The Pine Labs IPO saw a 57% subscription rate by the close of bidding on November 11. Retail investors exhibited significant interest, achieving a 98% subscription rate. Institutional investors subscribed at 64%, while non-institutional investors accounted for only 14%. The price range for shares was set between ₹210 and ₹221. The company intends to utilize the IPO proceeds to settle debts and invest in technology and subsidiaries, with some funds allocated for future acquisitions and general operational needs. Pine Labs is recognized for its digital payment and POS solutions catering to merchants and brands. The allotment results for the IPO will be disclosed on November 12, with shares expected to list on November 14.
Investors can verify their allotment status on the KFin Technologies, BSE, or NSE websites using their PAN or application number. In the grey market, Pine Labs shares are trading at approximately ₹221, nearing the upper limit of the price band, indicating a neutral to slightly positive sentiment among investors. Experts suggest that the stable grey market premium reflects a balanced perspective, with investors acknowledging Pine Labs’ robust business while remaining cautious about its valuation. The ultimate listing price will be influenced by demand from major institutional investors prior to the market debut.
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