Pine Labs IPO, which opened for subscription on November 7, will close for bidding today, Tuesday, November 11. The mainboard IPO has so far been subscribed over 54%.
Based in Noida, Pine Labs is a technology firm aimed at enhancing commerce through digital payment solutions and issuance services for merchants, consumer brands, enterprises, and financial institutions.
Its technological framework facilitates digital transactions and payment processing in India and several other international regions, including Malaysia, the UAE, Singapore, Australia, the US, and various parts of Africa.
Pine Labs IPO subscription status
On the last day of bidding, the Pine Labs IPO has so far been subscribed over 56%. The IPO has received 5,50,86,328 share applications against offered 9,78,93,739 shares.
The retail category was subscribed 96%, while the Non-Institutional Investor (NII) segment saw 14% subscription. Qualified Institutional Buyers (QIBs) subscribed 64% of their allotted portion.
Pine Labs IPO – apply or not?
As stated by SBICAP Securities, the firm has established enduring relationships with prominent clients such as HDFC Bank, Croma, and LG Electronics, and is poised to take advantage of the approximately ₹276 trillion market opportunity by FY29P. From FY23 to FY25, it has shown a strong Revenue/EBITDA CAGR of 19.3%/538.6%, respectively. In addition, the company intends to utilize the IPO proceeds to pay off ₹532 crore in debt. The firm’s operations have experienced a significant turnaround, marked by substantial growth in EBITDA and adjusted EBITDA during the FY23-FY25 timeframe.
“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 long-term investment horizon,” said the brokerage.
Pine Labs IPO GMP today
Pine Labs IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹221 with no premium or discount in the grey market according to investorgain.com
According to the recent analysis of grey market activities over the past 10 sessions, the current IPO GMP shows a downward trend and is anticipated to decrease further. The minimum GMP recorded is ₹0.00, with the maximum reaching ₹60, as per expert opinions.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Pine Labs IPO details
The company’s IPO, valued at ₹3,900 crore, is set to close today, Tuesday, November 11. Pine Labs IPO price band has been fixed in the range of ₹210-221 per share, aiming for a Pine Labs IPO valuation exceeding ₹25,300 crore. Pine Labs IPO GMP today or grey market premium was ₹0.
Pine Labs IPO includes a fresh share issue valued at ₹2,080 crore, alongside an offer for sale (OFS) of over 8.23 crore equity shares, which is estimated at ₹1,819.9 crore at the upper price band, provided by existing shareholders.
The funds raised from the fresh share issue will be utilized by the company to pay off debt, invest in IT assets, cover costs related to cloud infrastructure, develop technology initiatives, and acquire digital checkout points.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
