IPO Trending
PINELABSEQ / NSE, BSEListed
Pine Labs

Founded in 1998 and headquartered in Noida, Pine Labs is a leading Indian merchant commerce platform that offers POS solutions, payment processing, and merchant financing services. It helps businesses of all sizes—from small retailers to large enterprises—adopt digital payment technologies and enhance customer experiences. The company’s offerings include smart POS devices that accept multiple payment modes, Buy Now Pay Later (BNPL) options, short-term financing for merchants, loyalty and gift solutions, and online payment tools for e-commerce platforms. As of December 31, 2024, Pine Labs served over 9 lakh merchants and worked with major brands like Amazon Pay, LG Electronics, Flipkart, and banks such as HDFC, Axis, and ICICI. Over the years, Pine Labs has grown from a simple card payment provider into a comprehensive fintech platform driving India’s cashless retail transformation.

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₹210 - ₹2212.48x sub
Listed Price₹242.00
Listing Gain+9.50%

IPO Schedule & Timeline

Bookbuilding IPO
Open07 Nov 2025
Close11 Nov 2025
Allotment12 Nov 2025
Listing14 Nov 2025

Quota Reservation & Application Lots

Quota Reservation (% Shares)

Anchor7,93,58,986 shares
44.97%
QIB5,28,97,083 shares
29.98%
HNI2,64,51,214 shares
14.99%
Retail1,76,34,143 shares
9.99%
Employee1,25,000 shares
0.07%

Minimum Application Lots

Retail1 Lot (67 shares)
₹14,807
sHNI14 Lots (938 shares)
₹2,07,298
bHNI68 Lots (4,556 shares)
₹10,06,876

Company Promoters

NA

Company Background

Founded in 1998 and headquartered in Noida, Pine Labs is a leading Indian merchant commerce platform that offers POS solutions, payment processing, and merchant financing services. It helps businesses of all sizes—from small retailers to large enterprises—adopt digital payment technologies and enhance customer experiences. The company’s offerings include sma...

Lead Managers & Bankers

Axis Capital LimitedCitigroup Global Markets India Private LimitedJ.P. Morgan India Private LimitedJefferies India Private LimitedMorgan Stanley India Company Private Limited

Financial Performance

Figures in ₹ Crores
Metric Breakdown

Revenue

Latest (Jun-25)₹653.08 Cr
Growth-61.4%
Revenue Trend (₹ in Crores)
0.0892.11.8k2.7kMar-23Mar-24Mar-25Jun-25
PeriodRev (Cr)PAT (Cr)AssetsDebt
Jun-25653.084.7910,904.32888.74
Mar-252,327.09-145.4910,715.74829.49
Mar-241,824.16-341.99,648.56532.92
Mar-231,690.44-265.159,363.21329.51

Key Performance Indicators (KPIs)

PeriodEPSROEROCEP/E (Pre)P/E (Post)
Jun-250.050%0%00
Mar-25-1.450%0%-160.130
Mar-24-3.460%0%00
Mar-23-2.70%0%00

Peer Comparison & Valuation

Financial Performance

Pine Labs Limited

NAV/Share (₹)-22.43
RONW(%)-4.15
EPS (Basic) (₹)-1.45

One97 Communications Limited (“Paytm”)

NAV/Share (₹)235.54
RONW(%)-4.69
EPS (Basic) (₹)-10.35

Zaggle Prepaid Ocean Services Limited (“Zaggle”)

NAV/Share (₹)99.25
RONW(%)9.64
EPS (Basic) (₹)6.99

Adyen N.V.

NAV/Share (₹)13,987.40
RONW(%)25.06
EPS (Basic) (₹)3,058.07

Shopify Inc.

NAV/Share (₹)761.60
RONW(%)19.58
EPS (Basic) (₹)133.45

Block Inc.

NAV/Share (₹)2,925.70
RONW(%)14.51
EPS (Basic) (₹)399.50

Marqeta Inc.

NAV/Share (₹)180.20
RONW(%)2.34
EPS (Basic) (₹)4.25

Valuation

Pine Labs Limited

P/E(X)0
CMP* (₹)0
Face value (₹)1.00

One97 Communications Limited (“Paytm”)

P/E(X)-110.98
CMP* (₹)0
Face value (₹)1.00

Zaggle Prepaid Ocean Services Limited (“Zaggle”)

P/E(X)48.87
CMP* (₹)0
Face value (₹)1.00

Adyen N.V.

P/E(X)46.23
CMP* (₹)0
Face value (₹)0

Shopify Inc.

P/E(X)96.50
CMP* (₹)0
Face value (₹)0

Block Inc.

P/E(X)16.10
CMP* (₹)0
Face value (₹)0

Marqeta Inc.

P/E(X)101.20
CMP* (₹)0
Face value (₹)0

Broker & Analyst Reviews

Review Not Available

Institutional broker reviews and analyst reports have not been released for this issue yet. Reviews are typically published 2 to 3 days prior to the issue opening date.

IPO Allotment & Registrar Status

Official Registrar: Kfin Technologies Limited

Allotment Finalized
Allotment Date
12 Nov 2025
Official Status
Out / Finalized
Registrar
Kfin Technologies Limited
Listing Date
14 Nov 2025

Official Allotment Verification Links

Official Registrar Portal
Kfin Technologies Limited

Direct allotment verification on the official registrar portal appointed for Pine Labs. Check with PAN or Application No.

Check on Registrar Portal
Stock Exchange Portal
BSE India Investor Portal

Official Bombay Stock Exchange investor verification channel using Issue Name and PAN Number.

Check on BSE India

Allotment Schedule & Milestones

IST
1. Allotment Finalization12 Nov 2025Basis of allotment declared
2. Refund Initiation1 day post allotmentUPI / ASBA mandate unblocked
3. Demat CreditPrior to listingShares credited to CDSL/NSDL
4. Listing Date14 Nov 2025Trading commences on exchange

How to Check Pine Labs Allotment Online

1Open Portal

Click on the official registrar link or BSE portal button above.

2Select Company

Select Pine Labs from the issue drop-down list.

3Enter Details

Select PAN, Application No., or DP Client ID and type your details.

4View Allocation

Click Submit to check your allotted share count and status.

Prospectus & Official Filings

Official FilingDRHP
Official FilingANCHOR

Allotment FAQs & Help

About Pine Labs IPO

Complete issue overview for Pine Labs (PINELABS) IPO. The issue features an equity share price band of ₹210 – ₹221 per share with a minimum retail lot size of 67 Shares (minimum application amount of ₹14,807). Explore live market tracking on our GMP Tracker, compare against All IPO GMP Today, or view category bidding on the Subscription Page. Verify official allotment via IPO Registrars or review participating investment bankers in our Lead Managers Directory.

Frequently Asked Questions