Daijiworld Media Network - Mumbai

Mumbai, Nov 11: The initial public offering (IPO) of Pine Labs Ltd. was subscribed 57% as of Tuesday morning, the final day of bidding. The fintech firm’s IPO, which opened on November 7, had seen 13% subscription on Day 1 and 54% by the end of Day 2.

According to data available till 10:39 a.m., the Qualified Institutional Buyers (QIBs) portion was subscribed 0.64 times, the Non-Institutional Investors (NIIs) segment 0.14 times, while Retail Individual Investors almost fully subscribed their portion at 0.97 times. The employee quota saw strong demand, being subscribed 5.35 times.

Pine Labs’ Rs 3,899.91 crore IPO is a book-built issue, comprising a fresh issue of shares worth Rs 2,080 crore and an offer for sale (OFS) of Rs 1,819.91 crore. The price ban

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