Pine Labs Limited, a leading merchant commerce platform, is set to conclude its Initial Public Offering (IPO) on Tuesday, November 11. The mainboard offering of Pine Labs Ltd. remains undersubscribed as bidding resumes on the third and final day of subscription.
According to the BSE data, investors have bid for 5,31,13,379 shares against the 9,78,93,739 shares on offer, resulting in a subscription of 0.54 times so far.
Pine Labs offers point-of-sale (POS) solutions, payment processing, and merchant financing services.
The grey market premium for the mainboard offer had captured the attention of private market investors as the GMP reached Rs 35 when the price band for the public issue was announced. But since then, the GMP has been trending lower in the days leading up to final day of subscription. Ahead of its launch, the GMP was as high as Rs 35, but has now shown a 100% decline over last few days.
As the subscription for the mainboard offer enters its final day, here’s all you need to know about the Pine Labs Ltd. IPO, including the latest grey market premium (GMP), allotment date, listing details, and more.
