Mumbai, November 3, 2025: Pine Labs Limited has announced that its much-awaited Initial Public Offer (IPO) will open for subscription on Friday, November 7, 2025, and close on Tuesday, November 11, 2025. The price band has been fixed at ₹210 to ₹221 per equity share with a face value of ₹1 each. The Anchor Investor bidding will take place on November 6, 2025, a day prior to the issue opening.
The IPO comprises a fresh issue aggregating up to ₹20,800 million and an offer for sale (OFS) of up to 82,348,779 equity shares by existing shareholders. Pine Labs will use the net proceeds for repayment or prepayment of borrowings, investments in overseas subsidiaries like Qwikcilver Singapore, Pine Payment Solutions Malaysia, and Pine Labs UAE, along with IT infrastructure expansion, digital checkout technology upgrades, and potential inorganic acquisitions.
Investors can bid for a minimum of 67 shares and in multiples thereof. A ₹21 per share discount is being offered to eligible employees. The shares will be listed on both the BSE and NSE, with the NSE as the designated stock exchange. The offer is being made through the Book Building Process, where 75% of the net offer is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Investors.
Axis Capital, Morgan Stanley, Citigroup, J.P. Morgan, and Jefferies India are the Book Running Lead Managers (BRLMs) for the offer. For detailed information, investors can refer to the Red Herring Prospectus (RHP) available here.
