The initial public offering (IPO) of Pine Labs opens for bidding on Friday, November 07. The company is offering its shares in the range of Rs 210-221 apiece which can be applied for a minimum of 67 equity shares and its multiples thereafter. The issue shall close for bidding on Tuesday, November 11. Advertisement

Pine Labs to looking to raise a total of Rs 3,899.91 crore via IPO, which includes a fresh share sale of Rs 2,080 crore and an offer-for-sale (OFS) of up to 8,23,48,779 equity shares worth Rs 1,819.91 crore by existing shareholders. The net proceeds shall be utilized towards debt repayment, investment in subsidiaries and IT assets, could infrastructure and general corporate purposes.

Incorporated in 1998, Gurugram-based Pine Labs is a leading Indian merchant commerce platform

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