Pine Labs unlocks 59.5 lakh shares as lock-in ends
Pine Labs is letting shareholders trade 19.8 million shares (2% of its equity) as the first phase of its post-IPO lock-in ends on December 8, with a second unlock set for December 12 for 39.7 million shares (3% of equity).
This means shares worth nearly ₹1,500 crore will soon be up for grabs in the market, with the first phase valued at ₹489.1 crore.
What does Pine Labs do?
Based in Gurugram, Pine Labs helps over 9.1 lakh merchants with digital payments and commerce tools.
The company's business is growing fast—last quarter, transaction value jumped 92% year-on-year to $48.2 billion, and total transactions rose by 44%.
It also posted a ₹6 crore net profit and improved profitability after cutting employee stock option expenses.
Other details
Pine Labs listed on November 14 at ₹242 per share—almost a 10% bump from its IPO price of ₹221—and now trades at around ₹247 (up about 15%).
Its IPO raised ₹3,900 crore, with big investors like Peak XV Partners partially cashing out during the offering.