How to Check Pine Labs IPO Allotment Status

Pine Labs Limited is a leading Indian merchant commerce platform offering digital payment, merchant financing, and commerce solutions. Its technology enables businesses to accept multiple payment modes, manage loyalty programs, and access working capital loans through partnerships with financial institutions.

As of March 31, 2025, Pine Labs reported total income of ₹2,327.09 crore and served over 988,000 merchants, 716 consumer brands, and 177 financial institutions.

The Pine Labs IPO came with a total issue size of ₹3,899.91 crore, including a fresh issue of ₹2,080 crore and an offer for sale of ₹1,819.91 crore. The IPO opened on November 7, 2025, and closed on November 11, 2025. The allotment is expected to be finalized on Wednesday, November 12, 2025. The price band was fixed at ₹210 to ₹221 per share.

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Steps to Check Pine Labs IPO Allotment Status on Registrar Site

• Visit the Kfin Technologies Ltd. 
• Select "Pine Labs" from the dropdown menu on the allotment status page
• Enter your PAN ID, Demat Account Number, or Application Number in the designated field
• Complete the captcha verification process and click on the "Submit" button to view your allotment status

Steps to Check Pine Labs IPO Allotment Status on BSE

• Navigate to the BSE IPO Allotment Status Page
• Select the issue type: equity/debt
• Choose "Pine Labs" from the list of active IPOs in the dropdown menu
• Input your Application Number and PAN ID in the required fields
• Verify the captcha and click "Search" to check your allotment status

Pine Labs IPO Subscription Status

Pine Labs IPO received moderate subscription, being subscribed 2.48 times overall. Below is the category-wise breakdown as of 5:04:34 PM on November 11, 2025:

• QIB (Ex Anchor): 3.97 times
• Non-Institutional Investors (NII): 0.30 times
• Retail Investors: 1.27 times
   

Pine Labs IPO Share Price and Investment Details

The minimum investment required was ₹14,807 for 1 lot (67 shares). The issue raised ₹1,753.83 crore from anchor investors ahead of the opening.

Given the final subscription of 2.48 times, with institutional interest of 3.97 times and retail participation of 1.27 times, the listing outlook remains stable, supported by strong anchor participation.

Utilisation of IPO Proceeds

The net proceeds from the IPO will be used for the following purposes:

• Repayment / prepayment of certain borrowings – ₹532 crore
• Investment in subsidiaries for international expansion (Qwikcilver Singapore, Pine Payment Solutions Malaysia, Pine Labs UAE) – ₹60 crore
• Investment in IT assets and technology infrastructure – ₹760 crore
• General corporate purposes and potential acquisitions
   

Business Overview

Founded in 1998, Pine Labs has evolved from a card-based payments provider into a comprehensive fintech ecosystem. The platform brings together merchants, consumer brands, and financial institutions, enabling commerce transactions through smart POS devices, Buy Now Pay Later (BNPL) solutions, merchant financing, loyalty management, and online payment tools.
Its key strengths include a scalable cloud-based infrastructure, deep partnerships with large enterprises and banks, and leadership in India’s growing digital payments market.

However, despite revenue growth, Pine Labs reported losses in FY24 and FY25, posting a P/E ratio of 1,325.57x (post-issue), indicating rich valuation. The company turned profitable only in Q1 FY26, making it a long-term growth story driven by India’s digital commerce expansion.