Pine Labs IPO allotment: Steps to check status on BSE, NSE and KFintech

Pine Labs Ltd. is set to finalise the share allotment status for its initial public offering (IPO) on Wednesday, November 12, after successful subscription. The mainboard IPO was overall subscribed 2.46 times on the last and final day of bidding on Tuesday.The ₹3,899.91-crore IPO attracted bids for more than 24.09 crore shares against 9.78 crore shares on offer, as per the NSE data. The Qualified Institutional Buyers (QIBs) booked their segment 4 times, while the Non-Institutional Investors (NIIs) subscribed the issue 0.3 times. The retail portion was booked 1.22 times.

The Pine Labs IPO was open for bidding from November 7 to November 11. The IPO price band was fixed at ₹210 to ₹221 per share. The mainboard issue was a combination of fresh issuance of 9.41 crore shares, worth ₹2,080 crore, and an offer-for-sale (OFS) of 8.23 crore shares, amounting to ₹1,819.91 crore. The lot size comprised 67 shares.

Pine Labs has proposed to use the IPO funds for technology upgradation, debt repayment and international growth. A portion of the funds will also be used for general corporate purposes.Investors who have bid for the IPO shares will be able to check their allotment status online through the BSE, NSE, and the official website of the issue registrar, Kfin Technologies Ltd.

Steps to check Pine Labs IPO share allotment on the BSE:

Access the IPO allotment page on the official BSE website: https://www.bseindia.com/investors/appli_check.aspx

Choose ‘Equity’ as the issue type

Select Pine Labs as the issue name
Enter your application number or PAN to proceed
Click on the search button to view your share allotment status
Steps to check IPO allotment status on Kfin Technologies:Go to the link: https://ipostatus.kfintech.com/

Choose ‘Pine Labs Ltd’ from the dropdown menu for IPO names

Select PAN, Application Number, or Demat Account Number

Enter the required details

Click on ‘Submit’ for allotment status

Investors can also check the IPO share allotment status on the NSE using their PAN and Application Number. However, it’s important to note that the company name will only appear on these platforms after finalisation of the share allotment status.

Pine Labs is expected to initiate the transfer of shares to the Demat accounts on November 13, following the share allocation. Refunds will also be processed for unsuccessful bidders on the same day.

The company’s shares are expected to be listed on the NSE and BSE on Friday, November 14.

Pine Labs is a technology-led payments firm. It primarily facilitates digital payments for merchants, consumer brands, enterprises and small businesses. Its platform enables digital payments, billing integration, loyalty and rewards management, and other value-added services. Apart from India, the company has a presence in Malaysia, Singapore, the UAE, Australia, the US and Africa.