(Source: Pine Labs website) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Pine Labs Limited, a leading merchant commerce platform, that launched its Initial Public Offering (IPO) on Friday, November 7, saw an overall subscription of 13%.

According to the BSE data, investors have bid for 1,29,07,550 shares against the 9,78,93,739 shares on offer, booking 0.13 times on Day 1.

Pine Labs offers point-of-sale (POS) solutions, payment processing, and merchant financing services.

The grey market premium (GMP) for the mainboard offer has captured market attention, with the GMP trending lower in the days leading up to Day 2 of subscription. Ahead of its launch, the GMP was as high as Rs 35, but has now declined more than 80%.

As the subscription for the mainboard offer enters

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