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Fintech major Pine Labs made a strong market debut on Friday, listing at Rs 242 — a 9.5% premium over its IPO price of Rs 221. The Rs 3,900-crore public issue was subscribed 2.48 times, driven mainly by institutional demand. QIBs subscribed 3.97 times, while retail participation was modest at 1.27 times and the NII segment lagged at 0.30 times.

Founded in 1998, Pine Labs is one of India’s leading merchant commerce and digital payments platforms. Its ecosystem spans smart PoS solutions, BNPL integrations, payment gateway services, gift card arm Qwikcilver, and merchant lending tie-ups. As of June 2025, it serves 988,000 merchants, 716 consumer brands, and 177 financial institutions.

The company counts marquee global investors such as Temasek, Peak XV Partners, Pay

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