Pine Labs IPO Day 2: Fintech Company Subscribed 47% On Second Day; Check GMP

The initial public offering (IPO) of Pine Labs has opened for subscription on November 7, 2025 and will close on November 11. Today (November 10) is the second day of bidding and it was subscribed by 47%. The qualified institutional buyers subscribed 0.51 times, non-institutional investors bid for 0.11 times and retail individual investors subscribed 0.8 times, while employees subscribed 4.75 times more than QIs, NIs and RIIs.

The Rs 3,899.91 crore IPO's shares can be purchased with a minimum investment of Rs 14,070 with a lot size of 57 shares and a price range between Rs 210 to Rs 221 per share. The tentative allotment date of Pine Labs IPO is set on November 12, 2025, and the listing date will be on November 14, 2025. 

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According to data on the NSE website, the IPO secured bids for 4,55,33,468 shares against 9,78,93,739 shares on offer. The issue consists of a fresh issuance of Rs 2,080 crore and an offer for sale (OFS) of Rs 1,819.91 crore by existing shareholders.

Pine Labs IPO GMP

As per investorgain.com, the unlisted shares of Pine Labs were trading at Rs 223 on Monday, 3.02 pm, reflecting a grey market premium of of 0.90% or Rs 2, over the upp price band of Rs 221. The estimate is Rs 223.