India, Nov. 10 -- Fintech major Pine Labs' IPO was subscribed 39% till 12:51 IST today, the second day of bidding. The issue received bids for 4.47 Cr shares as against 9.78 Cr shares on offer so far.

Employees' quota saw the highest interest and was oversubscribed 4.42X. It received bids for 5.84 Lakh shares against 1.32 Lakh shares on offer.

Retail investors placed bids for 1.43 Cr shares against 1.81 Cr shares reserved, translating to 79% subscription.

The non-institutional investors' category was subscribed just 10%, getting bids for 27 Lakh shares as against 2.71 Cr shares available for bidding.

Qualified institutional placed bids for 2.69 Cr shares as against 5.24 Cr shares on offer, translating to 51% subscription.

The fintech...