31 Mar 2023
Assets9,363.21
Total Income1,690.44
EBITDA196.80
Profit After Tax-265.15
NET Worth-1,764.77
Total Borrowing329.51
At a glance
Updated 2026-08-24The shares listed at ₹242.00, a 9.50% move from the issue price. Pine Labs is a Mainboard IPO with an issue size of ₹3,900.17 crore, proposed for listing on BSE, NSE. The offer opens on 7th Nov 2025 and closes on 11th Nov 2025. The issue structure includes a fresh issue of ₹2,080.26 crore and an offer-for-sale component of ₹1,819.91 crore. The current listing schedule points to 14th Nov 2025.
Issue details
Listing atBSE, NSE
Issue typeBook Build Issue
Issue size₹3,900.17 Cr
Fresh issue₹2,080.26 Cr
Offer for sale₹1,819.91 Cr
Face value₹1
Price band₹210.00–₹221.00
Allotment12th Nov 2025
Listing14th Nov 2025
Listing performance
Full performance ↗Issue price₹221.00
Listing price₹242.00
Current price—
Listing gain9.50%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹5.50
GMP / upper price2.49%
Est. listing₹226.50
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens7th Nov 2025
Closes11th Nov 2025
Allotment12th Nov 2025
Refund13th Nov 2025
Demat13th Nov 2025
Listing14th Nov 2025
Subscription demand
Full bidding ↗Total2.48×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 67 | ₹14,807 |
Company
Incorporated1998
Use of proceeds
| Object | Amount |
|---|---|
| Repayment / prepayment, in full or in part, of certain borrowings availed of by Company and certain of Subsidiaries, | ₹532.00 Cr |
| Investment in certain of Subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding presence outside India | ₹60.00 Cr |
| Investment in IT assets, expenditure towards cloud infrastructure, technology development initiatives and procurement of DCPs | ₹760.00 Cr |
| General corporate purposes and Unidentified Inorganic Acquisitions | ₹626.33 Cr |
| Issue Expenses | ₹194.00 Cr |
| Total | ₹2,172.33 Cr |
Financials
Full financials ↗31 Mar 2024
Assets9,648.56
Total Income1,824.16
EBITDA158.20
Profit After Tax-341.90
NET Worth-2,035.24
Total Borrowing532.92
31 Mar 2025
Assets10,715.74
Total Income2,327.09
EBITDA356.72
Profit After Tax-145.49
NET Worth-2,244.27
Total Borrowing829.49
30 Jun 2025
Assets10,904.32
Total Income653.08
EBITDA120.56
Profit After Tax4.79
NET Worth2,327.55
Total Borrowing888.74
Trend chart₹ crore
KPIs
| KPI | Mar 31, 2025 |
|---|---|
| RoNW | -4.15% |
| EBITDA Margin | 15.68% |
| Price to Book Value | -9.85 |
Valuation & shareholding
Pre-IPO EPS-1.38
Post-IPO EPS0.17
Pre-IPO P/E-160.13
Post-IPO P/E1325.57
Promoter holding pre0%
Promoter holding post0%
Market cap₹25376.65 Cr.
Issue expenses
| Expense | Amount |
|---|---|
| Repayment / prepayment, in full or in part, of certain borrowings availed of by Company and certain of Subsidiaries, | ₹532.00 Cr |
| Investment in certain of Subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding presence outside India | ₹60.00 Cr |
| Investment in IT assets, expenditure towards cloud infrastructure, technology development initiatives and procurement of DCPs | ₹760.00 Cr |
| General corporate purposes and Unidentified Inorganic Acquisitions | ₹626.33 Cr |
| Issue Expenses | ₹194.00 Cr |
| Total | ₹2,172.33 Cr |
Registrar & lead managers
Registrar
Kfin Technologies Ltd.Lead managers
- JP Morgan India Pvt.Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-08-24.