Pine Labs IPO Lists at ₹242 on NSE and BSE, 9.5% Above Issue Price of ₹221

Noida, November 14: Pine Labs IPO made a strong listing on NSE and BSE. The Pine Labs share price listed at ₹242 per share, against their issue price of ₹221, with a premium of 9.5%. However, right after listing, the shares started to witness heavy investor demand. As of 12:22 PM, Pine Labs share price was up by 18.51%, or 40.90 points, and was trading at ₹261.90. Until now, the Pine Labs shares have traded within a range of ₹284 and ₹234.17. The traded volume for the shares of Pine Labs stood at 6.86 crore shares.

Pine Labs Limited (NSE: PINELABS, BSE: 544606) is an Indian financial technology (fintech) company. The company offers a wide range of services, including point-of-sale (POS) systems, digital payment solutions, and merchant financing. The company was established in 1998, and is headquartered in Noida, Uttar Pradesh.

Pine Labs IPO: Anchor Allocation Details

Ahead of the IPO, Pine Labs raised ₹1,753.83 crore from 71 anchor investors. Key investors included major global and domestic institutions such as SBI Mutual Fund, Aditya Birla Sun Life, ICICI Prudential Life Insurance, Nomura, Franklin Templeton, and HSBC Global.

Pine Labs IPO Subscription Status

Pine Labs IPO was subscribed by a total of 2.48 times. QIBs subscribed the issue 3.97 times, retail investors 1.27 times, NIIs 0.30 times, and employees by 7.78 times.

Investor Takeaway for Pine Labs

Pine Labs IPO has listed with stellar gains, providing retail investors with significant profit. The shares of Pine Labs are trading with high volume, indicating that the investor demand is strong. It remains to be seen if the shares will sustain this performance next week, or will feel the pressure of investors booking listing gains.

REF: https://www.nseindia.com/get-quotes/equity?symbol=PINELABS

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