
Pine Labs IPO Subscription Day 3: Check Online
Posted by : sachet | Tue Nov 11 2025

Check Expert’s Verdicts on Pine Labs IPO
Here is the Pine Labs IPO launched on 7th November 2025. Bidding for the issue will close on 11th November 2025. The primary aim of the Pine Labs IPO is to raise ₹3,899.91 crores from the market. Additionally, the Pine Labs IPO has received an impressive level of subscription, indicating that the shares will likely be listed at a premium. Scroll down to check the Pine Labs IPO subscription and details.
Pine Labs IPO Details
| IPO Open Date | 7th November 2025 |
| Face Value | ₹1 per share |
| Price Band | ₹210 to ₹221 per share |
| Lot Size | 67 shares |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE & NSE |
| IPO Close Date | 11th November 2025 |
| Listing Date | 14th November 2025 |
The price band for the Pine Labs IPO has been prescribed at ₹210 to ₹221 per share. Let’s segregate the share quota fixed for different categories of investors.
| Categories | Shares Offered |
| QIB Shares Offered | At least 75% of the Net Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Net Offer |
| Retail Investors | Not more than 10% of the Net Offer |
Pine Labs IPO Subscription Status
As of now, the Pine Labs IPO has been subscribed to 0.4 times. Of these, 1.10 times are subscribed by retail investors, 0.17 times by non-institutional investors, and 0.90 times by QII (Qualified Institutional Investors).
The healthy subscription status indicates that investors are expecting higher returns at the time of the Pine Labs IPO, scheduled for listing on 14th November 2025. Pine Labs’ IPO also has a positive outlook, with the fresh issue of 9.41 shares to raise around Rs 3,899.91 crores.
Pine Labs IPO GMP Today

We know that higher subscription levels drive grey-market premiums for IPOs. Let’s explore the Pine Labs IPO GMP for 11th November 2025.
The grey market premium for this IPO is 0.00% or Rs 0 per share. It indicates that the estimated listing price per share is Rs 221. Numerous factors played a pivotal role in the jump in Pine Labs’ IPO GMP. These include higher subscription rates, favourable market sentiment, and investors’ positive attitude towards IPOs.
| GMP Date | IPO Price | GMP | Estimated Listing Price | Estimated Listing Gains |
| 10-11-2025 | ₹221.00 | ₹0.00 | ₹221.00 | 0.00% |
| 9-11-2025 | ₹221.00 | ₹0.00 | ₹221.00 | 0.00% |
| 8-11-2025 | ₹221.00 | ₹4.00 | ₹225.00 | 1.81% |
| 7-11-2025 | ₹221.00 | ₹5.5 | ₹226.5 | 2.49% |
| 6-11-2025 | ₹221.00 | ₹12.00 | ₹233.00 | 5.43% |
| 5-11-2025 | ₹221.00 | ₹17.00 | ₹238.00 | 7.69% |
| 4-11-2025 | ₹221.00 | ₹22.00 | ₹243.00 | 9.95% |
| 3-11-2025 | ₹221.00 | ₹35.00 | ₹256.00 | 15.84% |
| 2-11-2025 | ₹221.00 | ₹0.00 | ₹221.00 | 0.00% |
| 1-11-2025 | ₹221.00 | ₹0.00 | ₹221.00 | 0.00% |
About Pine Labs IPO Ltd.
Pine Labs Limited was established in 1998 as a prominent Indian commerce platform that offers various services, including point-of-sale solutions, payment processing, and merchant financing. Pine Labs is involved in all sizes of business, from small to large enterprises with digital payment and other value-added services.
- An ecosystem which brings together merchants, consumer brands, enterprises, and financial institutions, enabling commerce transactions
- Full-stack, cloud-based, scalable digital infrastructure and transaction platform
- Deep partnerships with large merchants, consumer brands, enterprises, and financial institutions.
- Experienced, professional management team
Pine Labs Limited Financials
The company’s financial analysis is essential before applying for Pine Labs Limited’s IPO. Look at the table to learn about Pine Labs Limited’s financials.
| Year Ended | 31st July 2025 | 31st March 2025 (in cr.) | 31st March 2024 (in cr.) | 31st March 2023 (in cr.) |
| Assets | 56.29 | 42.53 | 33.88 | 29.75 |
| Revenue | 19.51 | 2,327.09 | 1,824.16 | 36.42 |
| Profit After Tax | 2.87 | -145.49 | -341.90 | 1.88 |
| EBITDA | 4.24 | 9.54 | 8.39 | 3.28 |
| Net Worth | 19.10 | 16.23 | 5.87 | 1.01 |
| Reserve and Surplus | 13.16 | 10.29 | 5.37 | 0.51 |
| Total Borrowing | 15.32 | 15.62 | 17.09 | 16.19 |
Explanation
Pine Labs Limited’s revenue increased by 28% from ₹1,824.16 crores in March 2024 to ₹2,327.09 crores in March 2025. Moreover, the company’s PAT increased by 57% from ₹341.90 crores to ₹ 145.49 crores. Investors can analyse other relevant factors and make a decision accordingly.
Technical Indicators
Several technical indicators are available to assess a company’s potential to deliver returns. Use the parameters mentioned below to analyse the technical aspects of the Pine Labs IPO.
| Key Indicators | Value |
| PE Ratio (Price-to-Earnings) | [.] |
| EPS (Earnings Per Share) | -1.38 |
| RoNW | -4.15% |
| ROCE | [.] |
| ROE | [.] |
| EBITDA Margin | 15.68% |
| Price to Book Value | [.] |
| Market Capitalisation | [.] |
Pine Labs IPO Listing Expectations
Pine Labs IPO Highlights: IPO allotment is still pending, as the bid closes today. However, given the current GMP or market sentiment, it is reasonable to expect higher listing gains for the share. A 0.00% jump in the GMP of Pine Labs’ IPO suggests that the estimated listing price per share will be around Rs 0.
It will provide higher listing gains to investors who applied for this IPO. Also, the financial fundamentals of this business made it the experts’ top long-term recommendation.
Pine Labs IPO Dates
| IPO Open Date | 7th November 2025 |
| IPO Close Date | 11th November 2025 |
| Allotment | 12th November 2025 |
| Refund Date | 13th November 2025 |
| IPO Listing Date | 14h November 2025 |
Note: IPO GMP is volatile, driven by market sentiment. Hence, one should conduct their research before investing in it.
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