Pine Labs IPO – Key Details and Investment Highlights
The Pine Labs IPO will open on November 7, 2025, and close on November 11, 2025. It is a Book-Built Issue IPO, through which the company aims to raise approximately ₹3,899.91 crores. The issue comprises a fresh issue of ₹2,080 crores and an offer for sale of up to 82,348,779 equity shares with a face value of ₹1 each.
The price band for the Pine Labs IPO is set between ₹210 and ₹221 per share. The issue allocation includes QIB – 75%, Retail – 10%, and HNI – 15%. The IPO allotment is expected to be finalized on November 12, 2025, and the shares are scheduled to be listed on the BSE and NSE on November 14, 2025.
Financially, the company reported a revenue of ₹2,327.09 crores in FY 2025, compared to ₹1,824.16 crores in FY 2024. The net loss reduced to ₹145.49 crores in FY 2025 from ₹341.90 crores in FY 2024, indicating improved operational efficiency and a path toward profitability.
With a strong market presence, consistent revenue growth, and improving financial performance, the Pine Labs IPO presents a potential long-term investment opportunity for investors.
Pine Labs IPO Objectives:
The net proceeds from the Pine Labs IPO are proposed to be utilized for the following purposes:
- Repayment or prepayment (in full or in part) of certain borrowings availed by the company and its subsidiaries – ₹870 crores
- Investment in subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions Malaysia, and Pine Labs UAE, to expand the company’s international presence – ₹60 crores
- Investment in IT assets, including cloud infrastructure, technology development initiatives, and procurement of DCPs – ₹760 crores
- General corporate purposes and potential inorganic acquisitions – [●]
Pine Labs IPO Review (Apply or Not)
- May Apply
Pine Labs IPO Date & Price Band Details:
| IPO Open Date: | November 7, 2025 |
| IPO Close Date: | November 11, 2025 |
| Face Value: | ₹1 Per Equity Share |
| IPO Price Band: | ₹210 to ₹221 Per Share |
| Issue Size: | Approx ₹3,899.91 Crores |
| Fresh Issue: | Approx ₹2,080 Crores |
| Offer for Sale: | Approx 8,23,48,779 Equity Shares |
| Issue Type: | Book Build Issue |
| IPO Listing: | BSE & NSE |
| DRHP Draft Prospectus: | Link |
| RHP Draft Prospectus: | Link |
Pine Labs IPO Lot Size:
The minimum market lot for the Pine Labs IPO is 67 shares, requiring a minimum application amount of ₹14,807. Retail investors can apply for up to 13 lots, comprising 871 shares for a total investment of ₹1,92,491.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 67 | ₹14,807 |
| Retail Maximum | 13 | 871 | ₹1,92,491 |
| S-HNI Minimum | 14 | 938 | ₹2,07,298 |
| B-HNI Minimum | 68 | 4,556 | ₹10,06,876 |
Pine Labs IPO Allotment & Listing Date (Details)
The Pine Labs IPO will open on November 7, 2025, and close on November 11, 2025. The IPO allotment is expected to be finalized on November 12, 2025, and the shares are scheduled to be listed on the BSE and NSE on November 14, 2025.
| IPO Open Date: | November 7, 2025 |
| IPO Close Date: | November 11, 2025 |
| Basis of Allotment: | November 12, 2025 |
| Refunds: | November 13, 2025 |
| Credit to Demat Account: | November 13, 2025 |
| IPO Listing Date: | November 14, 2025 |
| IPO Bidding Cut-off Time: | November 11, 2025 – 5 PM |
Pine Labs IPO GMP Today:
The Pine Labs IPO GMP (Grey Market Premium) is ₹35. Based on the IPO price band of ₹221, the estimated listing price is ₹256 per share (cap price + today’s GMP), indicating an expected listing gain of approximately 15.84% per share.
Promoters of Pine Labs IPO
- The company does not have any identifiable promoter.
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| One97 Communications Limited | (10.35) | (110.98) | (4.69) | 235.54 | 6,900.40 Cr. |
| Zaggle Prepaid Ocean Services Limited | 6.99 | 48.87 | 9.64 | 99.25 | 1,303.76 Cr. |
Pine Labs IPO– Company Financial Performance
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹1,690.44 | ₹1,032.43 | ₹265.15 | ₹9,363.21 |
| 2024 | ₹1,824.16 | ₹1,402.39 | ₹341.90 | ₹9,648.56 |
| 2025 | ₹2,327.09 | ₹1,622.80 | ₹145.49 | ₹10,715.74 |
| June 2025 | ₹653.08 | ₹1,238.41 | ₹4.79 | ₹10,904.32 |
Pine Labs IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://ipostatus.kfintech.com/
Pine Labs IPO Lead Managers aka Merchant Bankers
- Axis Capital Limited
- Morgan Stanley India Company Pvt Ltd
- Citigroup Global Markets India Private Limited
- J.P. Morgan India Private Limited
- Jefferies India Private Limited
Pine Labs IPO Company Address
Pine Labs Limited
Unit No. 408,
4th Floor, Time Tower,
MG Road, DLF QE
Gurgaon, Haryana, 122002
Phone: +91 22 6986 3600
Email: cosecy@pinelabs.com
Website: http://www.pinelabs.com/
Pine Labs IPO FAQs
Q1. What is the Pine Labs IPO?
Pine Labs IPO is a Book Built Issue with a total issue size of approximately ₹3,899.91 crores, comprising a fresh issue of ₹2,080 crores and an offer for sale of up to 82,348,779 equity shares.
Q2. What are the Pine Labs IPO dates?
The IPO will open on November 7, 2025, and close on November 11, 2025.
Q3. What is the price band for the Pine Labs IPO?
The price band is fixed at ₹210 to ₹221 per share.
Q4. What is the Pine Labs IPO lot size?
The minimum market lot is 67 shares, requiring an application amount of ₹14,807. Retail investors can apply for up to 13 lots (871 shares) for a total investment of ₹1,92,491.
Q5. When will the Pine Labs IPO allotment be finalized?
The IPO allotment is expected to be finalized on November 12, 2025.
Q6. When is the Pine Labs IPO listing date?
The shares are proposed to be listed on the BSE and NSE on November 14, 2025.
Q7. Who are the promoters of Pine Labs Limited?
Pine Labs Limited does not have any identifiable promoters and is a professionally managed company.
Q8. What is the Pine Labs IPO GMP today?
The Pine Labs IPO GMP (Grey Market Premium) is ₹35, last updated on November 3, 2025, at 09:36 PM. Based on the price band of ₹221, the estimated listing price is ₹256 per share, indicating a potential gain of 15.84%.
Q9. How can I check the Pine Labs IPO allotment status?
You can check the Pine Labs IPO allotment status on the registrar’s website or through our IPO allotment page on upcomingipowatch.in.
Q10. Is it good to invest in Pine Labs IPO?
With improving financial performance, strong market presence, and a focus on technology-driven payment solutions, the Pine Labs IPO appears to be a promising long-term investment opportunity.
