Pine Labs IPO Day 1 LIVE: Issue subscribed 7% so far. GMP hints 5% listing pop. Check key details, review, more.
Pine Labs IPO Day 1 LIVE: The public subscription for the initial public offering (IPO) of Pine Labs, a fintech company, will start on November 7 and end on November 11. Pine Labs IPO price band has been set at ₹210 to ₹221 per share, aiming for a valuation exceeding ₹25,300 crore. Pine Labs IPO GMP today is ₹12.
Pine Labs IPO includes a fresh share issue valued at ₹2,080 crore and an Offer for Sale (OFS) of over 8.23 crore equity shares, which is estimated at ₹1,819.9 crore at the higher price point, from existing shareholders.
Previously, the company was planning to raise ₹2,600 crore through a fresh share issue, along with an additional OFS component of up to 14.78 crore shares from current shareholders, according to the preliminary papers submitted in June.
Based in Noida, Pine Labs is a technology firm dedicated to digitizing commerce through digital payment processing and solutions for merchants, consumer brands, enterprises, and financial institutions.
Its technological framework facilitates digital transactions and payment processing in India as well as in several international regions, including Malaysia, the UAE, Singapore, Australia, the US, and parts of Africa.
(Stay tuned for more updates)
