Pine Labs IPO Opens Nov 7: Massive Rs 3,899 Crore Issue; Check Latest GMP & Allotment Details

Pine Labs IPO is one of the most anticipated initial public offerings opening in November 2025. The issue will open for subscription on Nov 7th, and close on November 11th. The fintech major, known for its digital payment and merchant solutions, is expecting to raise Rs. 3,899.91 crore through this public issue.

Pine Labs IPO Details

The Pine Labs IPO is a book-built issue consisting of a fresh issue of Rs. 2,080 crore for 9.41 crore shares and an offer for sale (OFS) of 8.23 crore shares worth Rs. 1,819.91 crore. The IPO price band is set between Rs. 210 and Rs. 221 per share, with a lot size of 67 shares per application.

Pine Labs IPO GMP

As of November 3rd the Pine Labs IPO grey market premium stands at Rs. 35. Considering the upper price band of Rs. 221, the estimated listing price is around Rs. 256, suggesting a potential listing gain of nearly 15.84% for investors who receive allotment.

Pine Labs IPO Lead Managers & Registrar

Axis Capital Ltd. is serving as the book running lead manager (BRLM) for the Pine Labs IPO, while KFin Technologies Ltd. is the registrar for the issue.

Pine Labs Ltd. Financial Performance

Pine Labs Ltd. has recorded strong financial growth over the past year. According to its restated consolidated financials, the company's revenue surged by 28%, while its profit after tax (PAT) recorded an impressive 57% rise between FY2024 and FY2025,

As of March 31, 2025, Pine Labs reported a total income of Rs. 2,327.09 crore, up from Rs. 1,824.16 crore in FY2024. The company's EBITDA also jumped to Rs. 356.72 crore from Rs. 158.20 crore in the previous fiscal.

About Pine Labs

Pine Labs is a leading digital payment solutions provider that powers merchant commerce, prepaid gift cards, and payment gateway services across India and Southeast Asia. The company's growing presence in fintech and digital transactions has made it one of the most prominent players in the Indian startup ecosystem.

The funds raised from the fresh issue will primarily be used for business expansion, debt repayment, and technology enhancement, supporting Pine Labs' mission to deepen its footprint in digital payment infrastructure.