Pine Labs lists 10% higher despite weak IPO sentiment
Pine Labs made a stronger-than-expected stock market debut, listing at ₹242, nearly 10% above its IPO price of ₹221. While institutional buyers drove a 4x subscription, retail and NII interest stayed subdued. Employees showed the highest confidence with a 7.7x response. Analysts say long-term fundamentals look strong but advise new investors to wait for post-listing corrections.