Pine Labs’ Initial Public Offer of Equity Shares to open on November 7, 2025
FinTech BizNews Service
Mumbai, November 3, 2025: Pine Labs Limited today announces that the Bid / Offer Opening Date in relation to its initial public offer of the Equity Shares (“Offer”) will be Friday, November 7, 2025.
Amrish Rau, CMD And Chief Executive Officer, Pine Labs
The Offer comprises a fresh issue of such number of Equity Shares by the Company aggregating up to Rs20,800.00 million (the “Fresh Issue”) and an offer for sale of up to 82,348,779 Equity Shares (the “Offer for Sale”) by certain existing shareholders of the Company (the “Selling Shareholders”). For a complete list of the Selling Shareholders, please refer to page 610 of the red herring prospectus dated October 31, 2025 filed with the Registrar of Companies, Delhi and Haryana at New Delhi (“RHP”).
A discount of Rs 21 per Equity Share is being offered to Eligible Employees Bidding in the Employee Reservation Portion.
The Company proposes to utilise the Net Proceeds towards repayment / prepayment, in full or in part, of certain borrowings availed of by the Company; investment in certain of its Subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding its presence outside India; investment in IT assets, expenditure towards cloud infrastructure, procurement of digital check-out points and technology development initiatives; and general corporate purposes and unidentified inorganic acquisitions (the “Objects of the Offer”).
The Anchor Investor Bid/Offer Period opens and closes on Thursday, November 6, 2025. The Bid/Offer Period will open on Friday, November 7, 2025 for subscription and close on Tuesday, November 11, 2025.
The Price Band of the Offer has been fixed at Rs210 to Rss221 per Equity Share. Bids can be made for a minimum of 67 Equity Shares and in multiples of 67 Equity Shares thereafter.
This Equity Shares are being offered through the RHP.
The Equity Shares to be offered through the RHP are proposed to be listed on BSE Limited and National Stock Exchange of India Limited (“NSE”). For the purposes of the Offer, NSE is the Designated Stock Exchange.
Axis Capital Limited, Morgan Stanley India Company Private Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited and Jefferies India Private Limited are the book running lead managers to the Offer (the “BRLMs”).
The Offer opens on November 7, 2025 for Bids and closes on November 11, 2025. The Anchor Investor Bidding will open and close on Nov 6, 2025.
