Pine Labs IPO date: Price band set at ₹210 to ₹221 per share; a look at lot size, objectives and more

Pine Labs IPO date: Financial technology company Pine Labs Limited has set a price band of ₹210 to ₹221 per share for its ₹3,899.9 crore initial public offering. The IPO will be open from November 7 to November 11.

The initial share sale comprises a fresh issuance of shares valued at ₹2,080 crore and an offer for sale (OFS) component of ₹1,819.9 crore.

Under the OFS, Peak XV Partners Investment Holdings, London-based Actis Pine Labs Investment Holdings, PayPal, Mastercard Asia/Pacific, Temasek through Macritchie Investments, Madison India Capital, Invesco, MW XO Digital Finance Fund Holdco, Sofina Ventures S.A., Lone Cascade LP and Pine Labs co-founder Lokvir Kapoor will be offloading their stakes.

The fresh issue proceeds will be utilised for debt repayment, investment in information technology assets, expenditure towards cloud infra, technology development initiatives and procurement of digital checkout points.

Additionally, the company will use funds for investment in its units, such as Qwikcilver Singapore, Pine Labs UAE and Pine Payment Solutions, Malaysia, for expanding the presence outside the country.

Pine Labs IPO: Lot size

A lot consists of 67 shares and in multiples thereafter. The company has reserved 75% of the net offer for qualified institutional buyers, 10% for retail investors and 15% for non-institutional investors.

Pine Labs IPO: Allotment and listing dates

• Basis of allotment: November 12
• Initiation of refunds: November 13
• Credit of equity shares: November 13
• Listing of equity shares: November 14

Axis Capital, Citigroup Global, Morgan Stanley, Jefferies India and JP Morgan are the IPO's book-running lead managers, while KFin Technologies is the registrar.

Noida-based Pine Labs is a technology firm focused on digitising commerce via digital payments and issuing solutions for merchants, financial institutions, and consumer brands and enterprises.

Its technology infrastructure backs digital transactions and payment processing in India as well as in a few international markets like Malaysia, the UAE, Australia, the US, Singapore, and parts of Africa.

The company was India's largest issuer of closed and semi-closed loop gift cards by transaction value in FY2025, according to the Redseer Report.

In FY25, it processed payments worth ₹11.42 lakh crore in gross transaction value (GTV) across 5.68 billion transactions.

As of June 2025, its platforms were used by more than 9.88 lakh merchants, 177 financial institutions and 716 consumer brands and enterprises.

Pine Labs' customer base spans a wide range of sectors including retail, lifestyle, e-commerce, consumer electronics, travel, hospitality, healthcare, and financial services, as well as public sector clients such as traffic departments and municipal bodies.