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Pine Labs IPO oversubscribed 1.6x with strong fintech investor demand
Pine Labs IPO was oversubscribed 1.
Fintech firm Pine Labs closed its IPO subscription on November 11, attracting bids for 158.4 million shares against 97.9 million offered. The ₹6,000 crore issue drew significant participation from institutional and HNI investors, reflecting confidence in India’s digital payments sector. The funds will primarily be used to enhance merchant acquisition, develop credit-linked digital payment products, and expand in Southeast Asia.
Grey market premiums hovered around ₹18–₹22. The final allotment is expected by November 14 with a probable listing on November 18 across NSE and BSE.