Pine Labs Shares Drop 10% Amid IPO Lock-In Expiry
Pine Labs falls 10% intraday, 31% from listing price on IPO lock-in expiry
Business StandardImage: Business Standard
Pine Labs, a global fintech company, saw its shares fall by 10.97% to ₹167.10 on May 13, following the expiry of its IPO lock-in period. Approximately 923.6 million shares became eligible for trading, leading to a 31% decline from its listing price of ₹242. The company also announced a partnership with GCash for Business in the Philippines.
- 01Pine Labs shares fell 10.97% to ₹167.10 amid IPO lock-in expiry.
- 02Around 923.6 million shares became eligible for trading.
- 03Shares are now 31% below their initial listing price of ₹242.
- 04The company's market capitalization is approximately ₹19,400.13 crore.
- 05Pine Labs announced a partnership with GCash to enhance merchant services in the Philippines.
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On May 13, shares of Pine Labs, a global fintech player, dropped by 10.97%, closing at ₹167.10 on the Bombay Stock Exchange (BSE). This decline comes as approximately 923.6 million shares, representing nearly 80% of the company's outstanding equity, became eligible for trading following the expiry of the six-month IPO lock-in period. Pine Labs debuted on the stock market on November 14, 2025, after raising ₹3,900.17 crore through its initial public offering (IPO). Currently, the shares are trading 31% below their listing price of ₹242. During the trading session, nearly 5.2 million equity shares worth around ₹90 crore changed hands. Meanwhile, Pine Labs announced a partnership with GCash for Business, aimed at enhancing merchant acquisition and integrating various digital payment solutions in the Philippines. Dheeraj Chowdhry, the Chief Business Officer for Southeast Asia at Pine Labs, emphasized the partnership's role in providing smarter payment flows and value-added services to local merchants.
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The drop in Pine Labs' share price may affect investor confidence and the company's ability to raise further capital. Additionally, the partnership with GCash could enhance payment solutions for small and medium enterprises in the Philippines, potentially benefiting local businesses.
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