Pine Labs Ltd. IPO Nov 2025: Price Band, Dates, Review, GMP & Details

If you are planning to invest in the Pine Labs Ltd. IPO, then we recommend that you read the following article, so that you can make an informed decision.

Pine Labs Ltd. IPO Details Nov 2025

Pine Labs IPO opening date is November 7, 2025, and the closing date is November 11, 2025. The summary is as follows:

Company Overview of Pine Labs Ltd.

Pine Labs, incorporated in 1998, is a leading fintech company providing merchant commerce and digital payment solutions. It serves large retail chains as well as small businesses across India and Southeast Asia.

The platform offers:

• Smart POS terminals and omnichannel payments
• BNPL & instant EMI services for consumer purchases
• Merchant working capital loans
• Gift cards & loyalty program management
• API-based online payment services

As of June 30, 2025, the following information is available:

• Merchants: 9.88 lakh
• Consumer Brands: 716
• Financial Institutions: 177
• Key Clients: Amazon Pay, Flipkart, LG, Redington, HDFC Bank, ICICI Bank, Axis Bank

The company plays an important role in India's digital payments, retail tech and BNPL ecosystem.

Competitive Strengths of Pine Labs Ltd.

The following are the competitive strengths of Pine Labs Ltd.:

• Large ecosystem linking merchants, consumers, enterprises, and banks
• Scalable cloud-based fintech infrastructure
• Strong presence across offline and online commerce
• Deep relationships with major banks and retail brands
• Experienced management and tech-focused operating model

Financial Performance (₹ in crore) of Pine Labs Ltd.

The following table shows the financial performance of Pine Labs Ltd.:

Notes:

• Revenue grew 28% YoY (FY24 to FY25)
• PAT improvement driven by operational scale and tech optimisation
• Turned profitable in Q1 FY26 after back-to-back losses
• Negative net worth is improving post-fund infusion

Key Metrics of Pine Labs Ltd.:

The following are the key metrics of Pine Labs Ltd.:

IPO Object of the Issue

The following table shows the IPO object of the issue:

IPO Reservation

The IPO reservation for Pine Labs Ltd. is as follows:

Pine Labs IPO Timeline (Tentative)

The following is the tentative timeline for Pine Labs IPO:

Analyst View - Pine Labs IPO Review

Pine Labs operates in a high-growth fintech segment with strong leadership in POS and BNPL services. It has improved revenues consistently and turned profitable recently. Tech capability, merchant reach, and banking partnerships build strong moat potential. Please note that these are important points related to Pine Labs:

• Historically loss-making
• Valuation appears premium compared to some listed fintech peers
• Execution in global markets and BNPL credit cycles remain key risks

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Frequently Asked Questions

What is the Pine Labs Ltd. IPO?

The Pine Labs Ltd. IPO is a mainboard public issue with a price band of ₹210–₹221 per share and a total issue size of approximately ₹3,899.91 crore, including fresh issue and offer for sale components.

When to apply for the Pine Labs Ltd. IPO?

The IPO opens on November 7, 2025 and closes on November 11, 2025.

What is the minimum investment for the Pine Labs Ltd. IPO?

The minimum investment is one lot of 67 shares, costing ₹14,807 at the upper price band of ₹221.

How is the allocation distributed for the Pine Labs Ltd. IPO?

At least 75% of the issue is reserved for Qualified Institutional Buyers, up to 15% for Non-Institutional Investors, and up to 10% for Retail Investors.

When will the Pine Labs Ltd. IPO be listed? 

The tentative listing date is November 14, 2025 on NSE & BSE.

Why consider investing in the Pine Labs Ltd. IPO?

Pine Labs is a leading merchant commerce and digital payments company serving nearly 9.9 lakh merchants and major consumer brands. It has a strong fintech ecosystem, consistent revenue growth, and recently turned profitable,  however, valuation and past losses require careful assessment.

Author: Diwakar Singh

Diwakar Kumar Singh is a finance writer and BFSI specialist with 7+ years of experience in financial content and research. He has authored hundreds of finance articles, published multiple books internationally, and contributed to research publications. A Gold Medalist MBA from IMT, he brings a strong analytical understanding combined with clear, reader-focused communication. His work focuses on simplifying complex financial topics, including IPO analysis, unlisted shares, financial ratios, and company evaluations, providing well-researched and evidence-based insights to help readers make informed financial decisions.