Pine Labs IPO Day 2 GMP Live: Check Day 2 subscription data, GMP, price band - apply or avoid?

Qualified Institutional Buyers (QIBs) -- 0.51

Non Institutional Investors(NIIS) -- 0.11

Retail Individual Investors (RIIs) -- 0.82

Employee Reserved -- 4.66

Total-- 0.46

Qualified Institutional Buyers (QIBs) -- 0.02

Non Institutional Investors(NIIS) -- 0.10

Retail Individual Investors (RIIs) -- 0.75

Employee Reserved -- 4.10

Total - 0.18

At the upper end of the price band of Rs 221 per share, Pine Labs' stock is expected to list around Rs 225, implying a potential gain of only 1.8% for investors if the GMP holds steady.

The grey market premium (GMP), a key gauge of investor sentiment before listing, has dropped sharply from Rs 35 on November 3 to just Rs 4 as of 8:30 a.m. on November 10-a decline of more than 80%.

Pine Labs provides point-of-sale (POS) solutions, payment processing, and merchant financing services, catering primarily to retailers and enterprises across India and Southeast Asia.

According to BSE data, investors bid for 1,29,07,550 shares against 9,78,93,739 shares available, translating to an overall subscription of 13% on Day 1 of the offer.

Pine Labs Limited, a leading merchant commerce platform, enters the second day of its Initial Public Offering (IPO) today