Pine Labs Makes Strong Debut on Dalal Street with 9.5% Premium

Pine Labs listing, Pine Labs share price:The payment solutions providerPine Labsmade a solid debut on Dalal Street in an otherwise subdued market. The company's shares listed at ₹242 per share on the NSE, opening with a 9.5 per cent premium over the issue price of ₹221. Soon after listing, the stock touched a low of ₹234.1, down 3.2 per cent from the listing price.On the BSE as well, Pine Labs shares opened at ₹242, a premium of 9.5 per cent. Post-listing, the stock fell around 3.3 per cent from the listing price to ₹234.07.The listing price of Pine Labs was above the grey market estimates. Ahead of the listing, unlisted shares of Pine Labs were trading at ₹226.5, commanding a grey market premium (GMP) of ₹5.5 or 2.5 per cent against the issue price, according to sources tracking unofficial markets.Pine Labs: Should you buy, sell or hold?Prashanth Tapse, senior vice president for research at Mehta Equities, believes the company's healthy debut reinforces investor confidence in the company’s strong fundamentals, scalable business model, and leadership position across digital payments and commerce-tech solutions."Post listing, we maintain our long-term 'Hold' recommendation for allotted investors. For non-allotted investors, a wait-and-watch approach is prudent until valuations stabilise and the stock finds a sustainable post-listing range," he said.According to Tapse, Pine Labs presents a compelling long-term opportunity as one of India’s leading and globally expanding commerce technology platforms. Its business sits at the strategic intersection of payments, fintech, merchant solutions, and digital infrastructure, giving it multi-dimensional monetisation avenues.Also ReadFinal hours! Pine Labs IPO closes today: Check latest subscription, GMPPine Labs IPO sees 54% subscription on second day, retail demand strongIPO Calendar: 5 issues to raise ₹10,000-cr next week; Lenskart debut eyedPine Labs IPO opens for bidding: Check GMP, price band, key dates, reviewPine Labs IPO: Analysts divided on prospects; should you subscribe?Pine Labs IPO subscription rateAccording to National Stock Exchange (NSE) data, the Pine Labs IPO received a muted response from investors, with overall subscription reaching 2.45 times. Investors placed bids for 240.93 million equity shares against the 97.89 million shares available. Qualified Institutional Buyers (QIBs) led the demand, oversubscribing their allotted quota by 4 times. The Non-Institutional Investors (NIIs) segment was subscribed only 30 per cent, while the retail investors’ portion received 1.22 times more bids than the shares on offer.ALSO READ |PhysicsWallah IPO allotment today, Nov 14; check status, GMP details herePine Labs IPO detailsPine Labs successfully raised ₹3,900 crore through its initial public offering, which comprised a fresh issue of 94.1 million equity shares and an offer for sale (OFS) of 82.3 million equity shares. The IPO was offered in the price band of ₹210 to ₹221 per share, with a minimum application lot of 67 shares. The issue was open for subscription from November 7 to November 11. The allotment of shares was finalised on Wednesday, November 12.According to the RHP, the company plans to utilise the net fresh issue proceeds for debt repayment, investment in IT assets, cloud infrastructure, technology development, and procurement of digital checkout points. Additionally, the company will invest in Pine Labs subsidiaries, including Qwikcilver Singapore, Pine Payment Solutions Malaysia, and Pine Labs UAE, to expand the international footprint.