Pine Labs IPO
FinTech/Payments - Listed on 14 November 2025
Pine Labs IPO listing summary
Pine Labs (FinTech/Payments) closed its IPO window in 2025 and listed on NSE and BSE on 14 November 2025 at an upper band issue price of Rs 221, opening at Rs 242 for a listing gain of +9.5% and closing day one at Rs 252 (+14.0% on closing basis). The IPO was subscribed 2.46x overall - QIB 4.00x, HNI/NII 0.30x, Retail 1.22x. The total issue size was Rs 3,899.91 Cr (Fresh Issue Rs 2080 Cr, OFS Rs 1819.91 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Listing day performance
Subscription breakdown
Final (Day 3) subscription
Number of times each investor category subscribed by close of Day 3.
Day-wise overall subscription
How overall subscription built up across the three-day issue window.
Pine Labs IPO GMP history
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 25 | +11.31% |
| Day 2 | Rs 20 | +9.05% |
| Day 3 | Rs 7 | +3.17% |
| Day 4 | Rs 5 | +2.26% |
| Day 5 | Rs 4 | +1.81% |
GMP Prediction vs IPOGyani AI Prediction
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Issue & financials
Market context at listing
How the broader market moved around the Pine Labs IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Pine Labs IPO - FAQs
What was the listing gain of Pine Labs IPO?
Pine Labs IPO listed at +9.5% versus the upper issue price of Rs 221 on 14 November 2025.
How many times was Pine Labs IPO subscribed?
Pine Labs IPO was subscribed 2.46x overall. QIB portion was subscribed 4.00x, HNI / NII 0.30x and Retail 1.22x.
What was the IPO GMP for Pine Labs?
IPO GMP started at Rs 25 on Day 1 and moved to Rs 4 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.