Pine Labs Share Price, IPO Listing, GMP Highlights: Pine Labs shares, a Fintech company, hit the bourses today, November 13, listing at a 9.5% premium at Rs 242 to the issue price. The stock closed 14% higher compared to the issue price.
The issue was subscribed 2.5 times, and the issue price has been fixed at Rs 221. The Rs 3,900 crore IPO was open for subscription between November 7-11.
| Pine Labs IPO | Key Details |
| Issue Price | Rs 221 per share |
| IPO Date | November 07- 11 |
| GMP | 3% |
| IPO Allotment date | November 12 |
| Listing date | November 14 |
Pine Labs IPO: What the IPO includes
The public issue was a mix of fresh shares and an offer-for-sale (OFS) by existing shareholders. Through this public offering, the company raised Rs 2,080 crore through the fresh issue. Meanwhile, the current investors sold shares worth Rs 1,820 crore via the OFS route.
Pine Labs IPO: Expert take
“At the upper price band, the stock is trading at EV/Sales, EV/EBITDA and EV/Adj EBITDA multiples of 8.0x, 82.8x and 50.7x, respectively, based on post-issue capital. On the back of a robust business model, going forward, we believe the company is well placed to deliver profitable growth and hence, we recommend investors to ‘Subscribe’ to the issue with a long-term investment horizon,” said SBI Securities in an IPO note.
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Pine Labs Share Price, IPO Listing, GMP Live: About Pine Labs
Pine Labs is a technology-led company focused on digitising commerce through digital payments and issuing solutions for merchants, consumer brands, enterprises, and financial institutions. Its offerings enable multiple workflows for merchants, including digital payments, smooth integration with billing systems, rewards and loyalty programme management, affordability options for end consumers, value-added services such as dynamic currency conversion, and digitising their stores through business software applications