Pine Labs, a prominent provider of digital payment and commerce solutions, has established the price range for its Rs 3,900 crore initial public offering (IPO) at Rs 210–221 per equity share with a nominal value of Re 1 each.

The proposal consists of a new issue valued at up to Rs 2,080 crore and a sale of shares by current investors for the remaining amount.

The public offering will start accepting bids on Friday, November 7, and will end on Tuesday, November 11.

The bidding for anchor investors in the IPO will take place the day before, on Thursday, November 6.
The IPO comprises a new issue of equity shares totaling up to Rs 2,080 crore and a sale offer (OFS) of up to 82,48,279 equity shares by current shareholders.

The selling shareholders encompass significant global investors like Peak XV Partners, Actis, Mastercard, PayPal, Sofina Ventures, Madison India, and more.

The equity shares available for sale will be offered at prices significantly above their average acquisition cost.

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The proposal features a booking for qualifying employees, totaling up to Rs 25 crore. Employees participating within this quota will qualify for a reduction of Rs 21 per equity share on the ultimate offer price. This reservation seeks to promote employee involvement in the company's public offering.

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Retail investors may place bids for a minimum of 67 equity shares and in multiples thereafter. The price to earnings (P/E) ratio for the offer, based on diluted EPS for fiscal 2025, is 144.83 times at the lower end of the price spectrum (Rs 210) and 152.41 times at the higher end (Rs 221). These valuations considerably exceed the industry's average P/E ratio of 61.78 times.

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The offer will adhere to the book-building procedure, with allocations in accordance with Sebi regulations: a minimum of 75percent of the net offer is set aside for Qualified Institutional Buyers (QIBs), up to 15percent for Non-Institutional Bidders (NIIs), and a maximum of 10percent for Retail Individual Investors (RIIs).