Pine Labs
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 14 Nov 2025 | ₹5.5 | +2.49% | ₹300 | ₹226.5 | ₹368.5 |
| 13 Nov 2025 | ₹5.5 | +2.49% | ₹300 | ₹226.5 | ₹368.5 |
| 12 Nov 2025 | ₹6.5 | +2.94% | ₹300 | ₹227.5 | ₹435.5 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 07 Nov 2025 – 11 Nov 2025
- Listing date
- 14 Nov 2025
- Face value
- ₹1 per share
- Issue price
- ₹221 per share
- Lot size
- 67 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹3,900 Cr
- Market cap at offer price
- ₹25,377 Cr
- Promoter holding
- 0.00% → 0.00% pre-issue → post-issue
- ISIN
- INE15B701018
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Axis Capital Ltd.
- Registered office
- Unit No.408, 4th Floor, Time Tower, MG Road, DLF QE, Haryana
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 7,93,58,986 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 67 shares per lot, in multiples, at ₹221
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 67 | ₹14,807 |
| Retail (max) | 13 | 871 | ₹1,92,491 |
| S-HNI (min) | 14 | 938 | ₹2,07,298 |
| S-HNI (max) | 67 | 4,489 | ₹9,92,069 |
| B-HNI (min) | 68 | 4,556 | ₹10,06,876 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹221 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | -1.38 | 0.17 |
| P/E (×) | — | 1300.00 |
| Price to book (×) | -9.85 | — |
| Market cap | — | ₹25,377 Cr |
No price-to-earnings multiple is shown: the company reported a loss, and an earnings multiple struck on negative earnings would read as a cheap valuation while meaning the opposite.
Key performance indicators
Latest reported period
- Return on net worth
- -4.15%
- EBITDA margin
- 15.68%
- NAV per share
- ₹-22.43
- Price to book
- -9.85
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.