Pine Labs Limited, a leading merchant commerce platform, entered the second day of its Initial Public Offering (IPO) on November 10 after a subdued start. On the opening day last week, the issue saw a subscription of 13%, with investors bidding for 1,29,07,550 shares against the 9,78,93,739 shares on offer, as per BSE data.
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Pine Labs IPO Day 2 GMP Live: Check Day 2 subscription data, GMP, price band - apply or avoid?
Pine Labs Limited, a leading merchant commerce platform, entered the second day of its Initial Public Offering (IPO) on November 10 after a subdued start. On the opening day last week, the issue saw a subscription of 13%, with investors bidding for 1,29,07,550 shares against the 9,78,93,739 shares on offer, as per BSE data.
The company, known for its point-of-sale (POS) solutions, payment processing, and merchant financing services, launched its Rs 3,900 crore IPO amid weak overall market sentiment.
Meanwhile, the grey market premium (GMP) - a key indicator of investor enthusiasm ahead of listing - has seen a sharp correction. After reaching as high as Rs 35 on November 3, the GMP has plunged over 80% to Rs 4 as of 8:30 a.m. on November 10. Based on the upper price band of Rs 221 per share, Pine Labs' stock is expected to list around Rs 225, suggesting a modest potential upside of roughly 1.8%.
The decline in GMP has been consistent in recent sessions - from Rs 22 on November 4 to Rs 12 on November 6 and Rs 5.5 on November 5, when the issue opened for bidding - marking an overall drop of nearly 88% from its early-month peak.
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Pine Labs IPO Day 2 GMP Live: A look at subscription data so far - Check BSE numbers
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
Pine Labs IPO Day 2 GMP Live: A look at subscription data so far - Check BSE numbers
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
Pine Labs IPO Day 2 GMP Live: Muted listing expectations based on current GMP
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.
Pine Labs IPO Day 2 GMP Live: Grey market premium declines sharply
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 IPO Day 2 GMP Live: Company overview and business model
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.
Pine Labs IPO Day 2 GMP Live: IPO subscription reached 13% on Day 1
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 IPO Day 2 GMP Live: Pine Labs IPO enters second day of subscription
Pine Labs Limited, a leading merchant commerce platform, enters the second day of its Initial Public Offering (IPO) today
