The allocation of shares for the Pine Labs IPO has been finalized today, allowing investors who participated in the public offering to verify their share allotment status. Pine Labs, a prominent merchant commerce platform in India, received a decent response from investors, although the subscription numbers were lower compared to recent listings like Groww and Lenskart.
As per exchange data, the Pine Labs IPO was oversubscribed by 2.48 times at the end of the three-day bidding period on November 11, 2025. The Qualified Institutional Buyers (QIBs) category had a subscription of 3.97 times, while retail investors subscribed 1.27 times. Non-Institutional Investors (NIIs) showed less interest with a subscription of 0.30 times.
To check the Pine Labs IPO allotment status, investors can visit the BSE website or use the registrar, Kfin Technologies Ltd. Here’s how:
On the BSE website:
1. Visit the BSE IPO allotment page.
2. Select the ‘Equity’ option.
3. Choose ‘Pine Labs Limited’ from the list.
4. Enter your application number and PAN.
5. Input the captcha and click ‘Search’ to view your allotment status.
On the Kfin Technologies website:
1. Go to the Kfintech IPO allotment page.
2. Select ‘Pine Labs Limited’ from the dropdown menu.
3. Choose one of the options – Application Number, Demat Account Number, or PAN.
4. Enter the relevant details and captcha.
5. Click ‘Submit’ to check your allotment status.
The Pine Labs IPO, a book-built issue valued at Rs 3,899.91 crore, consisted of a fresh issue of 9.41 crore shares totaling Rs 2,080 crore and an offer for sale (OFS) of 8.23 crore shares worth Rs 1,819.91 crore. The subscription period for the IPO ran from November 7 to November 11, 2025, with a price range of Rs 210 to Rs 221 per share.
The lot size for retail investors was 67 shares, requiring a minimum investment of Rs 14,807 at the upper price limit. Small non-institutional investors (sNIIs) had a minimum bid of 14 lots (938 shares) amounting to Rs 2,07,298, while large non-institutional investors (bNIIs) could bid for 68 lots (4,556 shares) worth Rs 10,06,876. Additionally, there was a reservation of 1,25,000 shares for employees at a discounted price of Rs 21 per share.
Axis Capital Ltd. acted as the book-running lead manager, and Kfin Technologies Ltd. served as the registrar for the IPO. The Grey Market Premium (GMP) for Pine Labs has seen a decline, with the latest GMP at Rs 1 on November 12, 2025, indicating a marginal listing gain expectation of 0.45%.
While market sentiment regarding the IPO is mixed, experts believe in Pine Labs’ promising long-term potential in payment solutions, point-of-sale systems, and digital lending partnerships. Pine Labs shares are scheduled to be listed on both BSE and NSE on November 14, 2025.