IPO Details
Bidding Dates
07 Nov 25 - 11 Nov 25
Price Range ₹
210 - 221
Total Equity
₹ 2163.45Cr
Lot Size
67
Exchange Status
BSE,NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
1.22×
Qualified Institutional Buyers
4.00×
Employees
7.35×
Retail Investors
1.22×
Total subscription Rate
2.46×
IPO Timeline
Offer start
07 Nov 2025
Offer end
11 Nov 2025
Allotment
12 Nov 2025
Refund initiation
13 Nov 2025
Demat transfer
13 Nov 2025
Listing
14 Nov 2025
Offer start
07 Nov 2025
Offer end
11 Nov 2025
Allotment
12 Nov 2025
Refund initiation
13 Nov 2025
Demat transfer
13 Nov 2025
Listing
14 Nov 2025
About Company
Incorporated in 1998, Pine Labs Limited is a leading Indian fintech company offering merchant commerce and digital payment solutions. The company provides a comprehensive ecosystem connecting merchants, consumer brands, and financial institutions through its advanced point-of-sale (POS) systems, payment processing, and financing services. Pine Labs has transformed from a card-based payment provider into a full-fledged fintech platform, enabling India’s transition toward a cashless economy.Its offerings include smart POS devices, Buy Now Pay Later (BNPL) options, merchant financing, loyalty and gift solutions, and online payment APIs for e-commerce platforms. As of June 30, 2025, Pine Labs served over 988,000 merchants, 716 consumer brands, and 177 financial institutions, with major clients including Amazon Pay, LG Electronics, Flipkart, and HDFC Bank. The company’s scalable cloud infrastructure, deep partnerships, and innovative financial services have positioned it among the top fintech enablers in India.
Year Founded
18-05-1998
Promotor Details
B Amrish Rau
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|
Offer to Public
9,78,93,739.00 Cr
Project Details
- Repayment / prepayment, in full or in part, of certain borrowings availed of by our Company and cert - 5320cr
- Investment in certain of our Subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Mala - 600cr
- Investment in IT assets, expenditure towards cloud infrastructure, technology development initiative - 7600cr
- General corporate purposes and unidentified inorganic acquisitions - 6263.34cr
Objectives
- a) Repayment / prepayment, in full or in part, of certain borrowings availed of by our Company.b) Investment in certain of our Subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding our presence outside India.c) Investment in IT assets, expenditure towards cloud infrastructure, procurement of digital check-out points (DCP) and technology development initiatives.d) General corporate purposes and unidentified inorganic acquisitions.
Highlights
- Offers a full range of fintech solutions, including POS, BNPL, and digital financing, catering to both offline and online merchants.
- Trusted by top consumer brands and leading financial institutions like HDFC Bank, Axis Bank, and Amazon Pay.
- Reported a 28% increase in revenue and 57% rise in PAT between FY24 and FY25, showing strong financial recovery.
- Operates a cloud-based, scalable platform that supports millions of transactions efficiently.
- Faces stiff competition from fintech players like Razorpay, Paytm, and PhonePe in both online and offline merchant solutions.
Challenges
- Despite recent profit growth, the company recorded losses in previous years, indicating past financial instability.
- With -4.15% RoNW, profitability and shareholder returns remain a concern.
- Total borrowing increased to ₹888.74 crore, adding leverage risk.
- Faces stiff competition from fintech players like Razorpay, Paytm, and PhonePe in both online and offline merchant solutions.
- Backed by a professional leadership group with expertise in technology, finance, and digital transformation.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2024 | 94,874.59 | 0.96 | -5,585.00 | -5,585.00 | -0.7232 |
| 2023 | 92,518.85 | 0.16 | -4,726.00 | -4,726.00 | -0.6577 |
| 2022 | 61,737.75 | 135.29 | -3,419.03 | -3,419.03 | -3561.4895 |
| 2025 | 1,05,582.05 | 0.96 | -5,585.00 | -5,585.00 | -0.7232 |
| 2021 | 4,52,987.00 | 1,287.10 | -2,651.45 | -2,651.45 | -2761.927 |