Pine Labs IPO Gains Momentum, Subscribed 2.48x on Day 3

Pine Labs Limited's initial public offering (IPO) has demonstrated strong investor interest through its third day of subscription. The stock price band is set at ₹210-221 per share. The ₹3,899.91 crore IPO reached 2.48 times by 5:04:34 PM on day three. 

Pine Labs IPO employees segment leads with strong 7.78 times subscription. Qualified institutional buyers demonstrate strong participation at 3.97 times. Retail investors display moderate interest at 1.27 times. Non-institutional investors show weak participation at 0.30 times. Pine Labs IPO subscription reached strong 2.48 times on day three. It was led by Employees (7.78x), Qualified Institutional Buyers Ex-Anchor (3.97x), Retail Investors (1.27x), and Non-Institutional Investors (0.30x). Total applications reached 2,30,539.

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Subscription Status of Pine Labs IPO:

Here are the subscription details for Pine Labs IPO as of Day 3 (November 11, 2025, 5:04:34 PM)

Key Highlights - Day 3:

• Overall subscription reached strong 2.48 times, showing substantial improvement from day two's 0.55 times
• Employee category displaying strong confidence at 7.78 times, building substantially from day two's 5.19 times, showing continued positive employee sentiment
• Qualified institutional buyers (ex-anchor) showing strong performance at 3.97 times, building substantially from day two's 0.63 times, indicating healthy institutional appetite for this fintech platform
• Retail investors displaying moderate confidence at 1.27 times, improving substantially from day two's 0.91 times, indicating building retail interest
• Total applications reached 2,30,539, showing significant growth from day two's 1,63,295 applications

Pine Labs IPO - Day 2 Subscription at 0.55 Times

Key Highlights - Day 2:

• Overall subscription reached modest 0.55 times, showing substantial improvement from day one's 0.13 times
• Employee category displaying strong confidence at 5.19 times, building substantially from day one's 3.14 times, showing positive employee sentiment
• Retail investors showing limited performance at 0.91 times, improving substantially from day one's 0.57 times but still indicating weak retail appetite
• Qualified institutional buyers (ex-anchor) showing weak participation at 0.63 times, building substantially from day one's 0.02 times but still indicating subdued institutional interest
• Total applications reached 1,63,295, showing growth from day one's 99,102 applications but still indicating modest investor participation
• Cumulative bid amount reached ₹1,177.23 crores, representing approximately 55% of the net offer size of ₹2,146.08 crores (excluding anchor portion)

Pine Labs IPO - Day 1 Subscription at 0.13 Times

Key Highlights - Day 1:

• Overall subscription reached weak 0.13 times, showing cautious initial investor interest
• Employee category showing moderate performance at 3.14 times, indicating positive employee sentiment
• Retail investors showing weak performance at 0.57 times, indicating subdued retail appetite
• Non-institutional investors showing minimal performance at 0.07 times, indicating very weak HNI interest
• Qualified institutional buyers showing minimal participation at 0.02 times, indicating negligible institutional appetite

About Pine Labs Limited

Incorporated in 1998, Pine Labs is a leading Indian merchant commerce platform that provides point-of-sale (POS) solutions, payment processing, and merchant financing services. The company empowers businesses of all sizes—from small retailers to large enterprises—with digital payment technologies and value-added services. Key offerings include smart POS devices accepting multiple payment forms, Buy Now Pay Later (BNPL) solutions, merchant financing, loyalty and gift solutions, and e-commerce payment tools.