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

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