Shares PayPal-backed Pine Labs debuted at a 9.5 per cent premium on the stock exchanges on Friday.
The stock opened at ₹242 on both the NSE and BSE, against the IPO price of ₹221. It moved higher immediately after listing, touching an intraday high of ₹250 on the NSE as investor sentiment remained buoyant.
At 10.13 am, the stock traded nearly 13 per cent higher on the NSE at ₹248 and 12 per cent higher at ₹247.10 on the BSE.
The premium listing reflected confidence in Pine Labs’ established position in the merchant payments ecosystem, diverse revenue streams and steady growth. The early upside also signaled optimism about the company’s profitability path and expanding product suite beyond point-of-sale solutions.
IPO drew broad investor interest
The ₹3,900 crore IPO received strong interest across investor categories. The issue, which comprised a mix of fresh shares and an offer for sale by existing shareholders, saw healthy subscription throughout the three-day bidding window The price band for the offer was set at Rs 210–221 per share, and the company raised funds to strengthen its merchant payment solutions, expand its buy-now-pay-later vertical and support general corporate purposes.
Institutional participation was particularly strong, with the anchor book receiving significant interest on the eve of the IPO. The company mobilsed ₹1,754 crore from anchor investors.