Pine Labs share price: Stock lists at 9.5% premium on NSE, BSE: here's how much investors made per lot

Pine Labs share price: Shares of payment solutions provider Pine Labs made a robust debut on the stock exchanges on Friday, November 14.

The stock listed at ₹242 apiece on the National Stock Exchange (NSE) and the BSE. This reflects a premium of 9.5% over the IPO issue price of ₹221.

Pine Labs share price: Here's how much investors made per lot

The ₹3,900.17 crore IPO was a fresh issue of shares worth ₹2,080.26 crore and an offer for sale (OFS) of more than 8.23 crore equity shares, valuing ₹1,819.91 crore by existing shareholders.

Under the OFS, Peak XV Partners Pine Investment Holding, Macritchie Investments Pte Ltd, PayPal Pte Ltd, Actis Pine Labs Investment Holdings Limited, AIM Investment Funds, Madison India Opportunities IV, Lone Cascad, Mastercard Asia/Pacific Pte Ltd, Sofina Ventures SA, Lone Cascade and Lokvir Kapoor offloaded their shares.

The funds generated through the fresh issue component will be utilised for the repayment of debt, investment in IT assets, expenditure on cloud infrastructure, procurement of digital checkout points and technology development initiatives.

The company will use the funds for investments in its units, such as Qwikcilver Singapore, Pine Labs in the UAE and Pine Payment Solutions in Malaysia, to expand its presence outside the country.

Noida-based Pine Labs is a leading commerce and financial technology company focused on digitising commerce through digital payments through point-of-sale (POS) solutions and issuing solutions for merchants, consumer brands and financial institutions.

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

It competes with the likes of Razorpay, Paytm, Infibeam, PhonePe and PayU Payments in the domestic market and Shopify, Adyen and Block in the international markets.