New Delhi: Pine Labs will open its IPO for bidding on November 7, 2025. This will give investors a fresh opportunity to invest in a homegrown fintech leader. As per the red herring prospectus, the Pine Labs IPO is a book-built issue of Rs 3,899.91 crore, which includes both fresh shares and an offer for sale (OFS). The public issue has already drawn considerable market attention ahead of its debut.
The Pine Labs IPO will include 9.41 crore fresh shares worth Rs 2,080 crore. In addition, existing shareholders will sell 8.23 crore shares through an offer for sale (OFS) valued at Rs 1,819.91 crore. The money raised from the fresh issue will be used to grow the business, upgrade technology, repay debt, and support general corporate needs.
Price Band and Investment Requirements
The Pine Labs IPO is priced in the range of Rs 210 to Rs 221 per share. For retail investors, the minimum lot size is 67 shares, which means a starting investment of Rs 14,807.
Small non-institutional investors (sNII) will need to apply for at least 14 lots (938 shares), amounting to about Rs 2,07,298, while big non-institutional investors (bNII) must bid for 68 lots (4,556 shares), requiring an investment of around Rs 10,06,876.
Key Dates to Remember
Investors can bid for the Pine Labs IPO until Tuesday, November 11. The allotment of shares is likely to be finalized on Wednesday, November 12, with refunds and demat share credits expected on Thursday, November 13. The company’s shares are tentatively set to list on the BSE and NSE on Friday, November 14.
Grey Market Premium and Market Sentiment
As per the latest reports from the unlisted market, the Pine Labs IPO is commanding a grey market premium (GMP) of Rs 12 as of November 6, 2025. This indicates a possible listing price of around Rs 233 per share, which is roughly 5.4 per cent higher than the upper end of the price band.
Financial Performance and Turnaround Signs
Pine Labs reported a profit of Rs 4.79 crore in the quarter ending June 30, 2025, marking an improvement from the loss of Rs 27.89 crore during the same period last year. However, the company has posted net losses in the past three financial years — Rs 145.49 crore in FY25, Rs 341.90 crore in FY24, and Rs 265.15 crore in FY23 — due to its heavy investments in expanding and scaling its business operations.
