Pine Labs IPO listing: Despite a lackluster reaction to its IPO, shares of the fintech company Pine Labs got off to a strong start on Dalal Street today, November 14, when they listed at a premium of about 10% on the exchanges.
Pine Labs IPO listing: Despite a lackluster reaction to its initial public offering (IPO), shares of the fintech company Pine Labs got off to a strong start on Dalal Street today, November 14, when they listed at a nearly 10% premium on the exchanges.On the BSE and the National Stock Exchange, Pine Labs' shares debuted at ₹242, a premium of ₹21, or 9.50%, above the ₹221 IPO price.
The listing was unexpected because Pine Labs' grey market premium (GMP) was ₹5.5 per unit, indicating a 2.5% listing pop.
Details of Pine Labs' IPO
PayPal-backed On Tuesday, the last day of the share sale, Pine Labs only received 2.46 times as many subscriptions, with the qualified institutional buyer (QIB) quota being the most booked.
The quota for retail individual investors was subscribed 1.22 times, whereas the QIB portion was subscribed four times. Nevertheless, just thirty percent of the non-institutional investors' share was subscribed.
Details of Pine Labs' IPO
PayPal-backed On Tuesday, the last day of the share sale, Pine Labs only received 2.46 times as many subscriptions, with the qualified institutional buyer (QIB) quota being the most booked.
The quota for retail individual investors was subscribed 1.22 times, whereas the QIB portion was subscribed four times. Nevertheless, just thirty percent of the non-institutional investors' share was subscribed.
Due to investor concerns regarding values, recent IPO listings have produced mixed results. While Billionbrains Garage Ventures, the parent company of India's leading bargain broker Groww, saw a 31% increase on its debut Wednesday, eyewear retailer Lenskart Solutions saw a 12% decline following its offering on Monday.
For their initial public offering (IPO), Pine Labs set a price range of ₹210–221 per share, aiming for a valuation of more than ₹25,300 crore.
The IPO included an offer for sale (OFS) of more than 8.23 crore equity shares and a new issue of shares valued at ₹2,080 crore.
The company will use the proceeds from the new issuance to pay off debt, invest in IT assets, pay for cloud infrastructure, fund technology development projects, and buy digital checkout points.
For their initial public offering (IPO), Pine Labs set a price range of ₹210–221 per share, aiming for a valuation of more than ₹25,300 crore.
The IPO included an offer for sale (OFS) of more than 8.23 crore equity shares and a new issue of shares valued at ₹2,080 crore.
The company will use the proceeds from the new issuance to pay off debt, invest in IT assets, pay for cloud infrastructure, fund technology development projects, and buy digital checkout points.
In order to increase its footprint abroad, the business plans to invest in its subsidiaries, including Qwikcilver Singapore, Pine Payment Solutions, Malaysia, and Pine Labs UAE.
Based in Noida Pine Labs is a technology company that issues solutions for businesses, financial institutions, consumer brands, and merchants with the goal of digitizing commerce through digital payments.
Disclaimer: This narrative is just intended for educational reasons. The opinions and suggestions are not those of Morning News, but rather those of certain analysts or broking companies. Before making any investment decisions, we suggest clients to speak with qualified specialists because situations can change and market conditions can change quickly.
Based in Noida Pine Labs is a technology company that issues solutions for businesses, financial institutions, consumer brands, and merchants with the goal of digitizing commerce through digital payments.
Disclaimer: This narrative is just intended for educational reasons. The opinions and suggestions are not those of Morning News, but rather those of certain analysts or broking companies. Before making any investment decisions, we suggest clients to speak with qualified specialists because situations can change and market conditions can change quickly.
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