Pine Labs IPO: Institutional investors oversubscribed their share 4 times

Business Nov 11, 2025

Pine Labs's ₹3,900 crore IPO just wrapped up with a lot of buzz—mainly from big institutional investors who oversubscribed their share nearly 4 times, pushing the total subscription to 2.5 times overall.
Retail investors showed decent but quieter interest, while non-institutional buyers barely showed up.

Pine Labs is riding high on investor confidence

Even though Pine Labs reported a net loss of ₹145 crore on revenues of ₹2,274 crore for FY25, its IPO values the company at about ₹25,377 crore.
Backed by names like Sequoia and PayPal and known for powering digital payments across India and Southeast Asia since 1998, Pine Labs is riding high on investor confidence in the future of digital payments—even if profits are still catching up.