Stocks to Watch, 10 December: Stocks like Swiggy, Highway Infrastructure, Zydus Lifesciences, IRB Infrastructure Developers, GPT Infraprojects, National Aluminium Company, Dilip Buildcon, Graphite India, Anupam Rasayan India, HG Infra Engineering, JSW Energy, Meesho, Aequs, and Vidya Wires will be in focus on December 10.
Emkay Global Financial recommended reduce rating on Pine Labs with a target price of Rs 225 in its research report dated December 04, 2025.
Stocks to Watch, 4 December: Stocks like Pine Labs, JK Cement, Rail Vikas Nigam, RailTel Corporation of India, Mukka Proteins, Pace Digitek, Petronet LNG, Nectar Lifesciences, Indian Energy Exchange, and InterGlobe Aviation will be in focus on December 4.
Pine Labs share price: Emkay said it sees an unfavorable risk-reward given the rising competition.
Emkay Global Financial recommended Reduce rating on Pine Labs with a target price of Rs 210 in its research report dated November 20, 2025.
In this conversation, Agrawal explains why Peak XV resisted selling in multiple up-rounds, how early product calls set Groww apart, why public-market readiness begins years before listing and and what the firm is betting on as it looks for the next Groww.
As of September 2025, promoter held 67.38 percent stake in Sagility, which now reduced to around 51 percent.
With this, Peak XV will rank among the most successful VC firms in terms of exits, as it stands to gain over $2.6 billion, with several of its portfolio companies, including Meesho and Wakefit, expected to go public in the coming years.
Ahead of listing, the shares of the company were trading with nearly three percent grey market premium (GMP) over the IPO price.
Pine Labs shares are scheduled to list on the stock exchanges on November 14.
Pine Labs IPO shares will be listed on both NSE and BSE on November 14, following a 2.46 times subscription to Rs 3,900-crore issue.
Over the past three to four years, Pine Labs has begun scaling up globally, entering South-East Asia, the Middle East, Africa and more recently, the US. The CEO and MD said these markets are already showing strong traction.
Pine Labs IPO share allotment is expected by November 12, while the share listing is scheduled to take place on November 14.
Once the poster child of India’s digital payments boom, Pine Labs’ valuation cut maybe indicative of an inflection point for the sector from expansion to a search for steady, profitable growth
The company is a high-quality play on India’s accelerating digital-commerce infrastructure story
Pine Labs IPO: The Rs 3,900-crore initial share sale is the combination of fresh issue of Rs 2,080 crore and an offer-for-sale of 8.23 crore shares worth Rs 1,820 crore by existing shareholders.
The premiums on these IPOs have increased in the range of Rs 5–20 per share, reflecting strong investor demand for the companies’ stock ahead of listing.
The company will use funds for investment in its subsidiaries such as Qwikcilver Singapore, Pine Payment Solutions, Malaysia, and Pine Labs UAE for expanding the presence outside the country
Pine Labs CEO said that while India may not yet be taken seriously in emerging technologies like artificial intelligence, the country’s fintech story is commanding attention.
The list of technology companies planning to tap the IPO markets includes companies such as Groww, Lenskart, Meesho, Pine Labs, Fractal Analytics and PhysicsWallah.
The company filed a draft prospectus with India’s market regulator on June 25 and got its approval this month.
The fintech player is contemplating a post-Diwali window to launch the IPO, targetting late October or early November for the offer, sources said, contingent to regulator Sebi’s approval and prevailing market conditions.
The key reason for the shift to profitability was the absence of ESOP-related expenses that dragged down FY24 earnings. That year, Pine Labs had booked a loss of Rs 187 crore, significantly impacted by Rs 234 crore in share-based payment expenses.
The fintech unicorn is contesting multiple tax demands, including a Rs 214 crore GST order and a separate GST audit claim, even as ED scrutiny and older service tax disputes remain unresolved.
While the OFS is primarily led by institutional investors, Pine Labs’ CEO Amrish Rau and Executive Chairman Lokvir Kapoor are also monetising a small portion of their holdings.