Pine Labs IPO price band has been fixed in the range of ₹210 to ₹221 per equity share of the face value of Re 1. The Pine Labs IPO date of subscription is scheduled for Friday, November 7, and will close on Tuesday, November 11. The allocation to anchor investors for the Pine Labs IPO is scheduled to take place on Thursday, November 6.
The floor price is 210 times the face value of the equity shares, and the cap price is 221 times the face value of the equity shares. The Pine Labs IPO lot size is 67 equity shares and in multiples of 67 equity shares thereafter.
Pine Labs IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employees has been reserved equity shares worth up to ₹25 million. A discount of ₹21 per equity share is being offered to eligible employees.
Tentatively, Pine Labs IPO basis of allotment of shares will be finalised on Wednesday, November 12, and the company will initiate refunds on Thursday, November 13, while the shares will be credited to the demat account of allottees on the same day following refund. Pine Labs share price is likely to be listed on BSE and NSE on Friday, November 14.
(more to come)