Shares of Pine Labs Ltd. made a decent debut at Dalal Street on Friday, November 14, as the fintech major was listed on the bourses at ₹ 242 on both NSE and BSE. This marks a premium of nearly 10% over its issue price ₹ 221 apiece.

The company's three-day IPO was subscribed 2.46 times, led by strong demand from Qualified Institutional Buyers (QIBs), who booked their quota 4 times. The Non-Institutional Investor (NII) segment subscribed 0.3 times, while the retail portion was booked 1.22 times.

Pine Labs had priced its IPO at ₹210-221 per share, targeting a valuation of over ₹25,300 crore.

According to Prashanth Tapse of Mehta Equities, the valuation appeared "slightly on the higher side," which was reflected in the overall subscription numbers.

Tapse said that Pine Labs' market lea

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