PineLabs IPO: The Rs 3900 crore IPO of fintech company Pine Labs is opening for subscription from today. You will be able to bid for it till 11th November. The IPO includes a fresh issue of Rs 2080 crore and an offer-for-sale of Rs 1820 crore.
The price band of the IPO has been fixed at Rs 210 to Rs 221 per share, while the lot size is 67 shares. Pine Labs shares will be listed on both BSE and NSE. The possible listing could take place on November 14. The lot size of the IPO is 67 shares. That means retail investors will have to invest at least Rs 14807 for one lot in the upper price band. Those applying for a maximum of 13 lots will need Rs 1.92 lakh.
What does the company do?
Pine Labs is a merchant commerce platform that facilitates digital payments across in-store and online channels. The company’s business model provides facilities to merchants and financial institutions such as accepting payments, providing merchant financing solutions, issuing prepaid instruments and ‘Buy Now Pay Later’ (BNPL). Apart from India, its operations are spread in the Middle East and South East Asia. By June 2025, the company will provide service to more than 9.8 lakh traders and 177 financial institutions.
How much is GMP?
According to InvestorGain, unlisted shares of Pine Labs are currently trading at a GMP of 12 percent in the gray market. Accordingly, the shares can be listed at a price of Rs 233 per share, which represents about 5.43 percent premium over the upper price band of the IPO. However, there has been a decline in GMP as first it remains at a premium of Rs 60, then Rs 35, then Rs 17 and now Rs 12.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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