Retail investors give lukewarm response to Pine Labs IPO

Fintech major Pine Labs’ initial public offering (IPO) witnessed tepid demand from retail investors, with the issue subscribed just 2.46 times. Its grey market premium stood at Rs 0, indicating a likely listing at par with the issue price of Rs 221 per share.

The IPO was open for subscription from November 7 to 11, with a price band of Rs 210–221 per share and a minimum investment of Rs 14,070. The share allotment is expected to be finalized on November 12, and the company is scheduled to list on the BSE and NSE on November 14.

Pine Labs’ Rs…