IPO Listed — 14 Nov 2025

Listing Price: ₹242

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Pine Labs IPO Review

Q: What was the actual listing price of Pine Labs IPO?

Pine Labs IPO listed on November 14, 2025 at ₹242, against the issue price of ₹₹221.

Q: What is the price band and lot size of Pine Labs IPO?

Pine Labs IPO is priced at ₹210-221 per share. The minimum lot size is 67 shares, making the minimum investment approximately ₹14,807 at the upper end of the price band. Subscription ran from 07 Nov 2025 to 11 Nov 2025.

Pine Labs IPO has been reviewed by 13 analysts, and the overall consensus is Strong Apply — carrying a score of 87. Out of the 13 analysts who have covered this IPO, 10 recommend subscribing while 3 advise caution or avoidance — reflecting a mixed view from the analyst community.

The issue is priced in the band of ₹210-221 per share , with a minimum application size of 67 shares (minimum investment of approximately ₹14,807 at the upper band) . Subscription ran from 07 Nov 2025 to 11 Nov 2025. Scroll down for the full analyst breakdown and analyst-wise verdicts.

General Review

Pine Labs provides merchant payment and commerce technology. Operating revenue grew 28.5 percent to ₹2,327.09 crore in FY25, with EBITDA improving to ₹356.72 crore, though the company reported a net loss of ₹145 crore driven by elevated operating expenses. Ten of the thirteen analysts said subscribe, two stayed neutral and one said avoid.

Listing Gains

With a loss at the net level, the notes value the issue on sales and EBITDA, at about 8.0 times EV to sales, 82.8 times EV to EBITDA and 50.7 times on adjusted EBITDA. Analysts consider that acceptable given the growth, but it left limited room, pointing to a moderate listing.

Short Term Strategy

The June 2025 quarter delivered ₹120.56 crore of EBITDA against ₹356.72 crore for full-year FY25, so momentum improved. Losses narrowed sharply from prior years. The near-term question in the notes is whether operating expenses stay contained enough to carry that EBITDA through to a net profit.

Long Term Strategy

Nearly every positive note asks for a medium to long-term perspective, resting on disciplined capital allocation, the breadth of the merchant platform and potential to scale globally. The long-term case turns on converting a growing revenue base into sustained profit, which had not happened at the time of the issue.

Disclaimer: This review is an AI summary derived from the reviews of all analysts.

Analyst Verdict & Score
Detailed Review
Analyst Reviews
Frequently Asked Questions

Analyst Sentiment

Analytical Score

How it's calculated?

Strong Apply

87 / 100

Recommend Subscribe

Based on 13 analyst reviews

10 / 13

Higher consensus indicates broader analyst agreement.

Analyst Review

Analyst	Verdict	View
Aditya Birla Money	Apply
Anand Rathi	Apply
BP Equities	Apply
SBI Securities	Apply
Sushil Finance	Apply
SMIFS Limited	Apply
Lakshmishree Investment	Apply
Ventura Securities	Apply
Capital Market	Neutral
Swastika Investmart	Avoid
Stoxbox	Apply
SMC Global	Neutral
IDBI capital	Apply

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Frequently Asked Questions

Should I apply for Pine Labs IPO?

Based on analyst coverage tracked on this page, the overall verdict for Pine Labs IPO is Strong Apply. Out of 13 analysts who have reviewed this IPO, 10 recommend subscribing. Always cross-check with the full analyst reviews below and consult a SEBI-registered advisor before making any investment decision.

What does the score of 87 mean for Pine Labs IPO?

The score of 87 is an aggregate of all analyst ratings tracked for Pine Labs IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Scroll down to read individual analyst verdicts for more context.

What was the actual listing price of Pine Labs IPO?

Pine Labs IPO listed on November 14, 2025 at ₹242 , against the issue price of ₹₹221 . View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Pine Labs IPO?

Pine Labs IPO was priced at ₹210-221 per share. The minimum lot size is 67 shares, making the minimum investment approximately ₹14,807 at the upper end of the price band. Subscription ran from 07 Nov 2025 to 11 Nov 2025.

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