India, Nov. 3 -- Fintech major Pine Labs has set a price band of INR 210 to INR 221 for its initial public offering (IPO), which is set to open on Friday (November 7).

At the upper end of the price band, the IPO values the company at INR 25,377 Cr (about $2.9 Bn). Earlier this year, reports said that Pine Labs was eyeing a valuation of $6 Bn to $7 Bn.

In terms of financial metrics, the company's price to earnings ratio (P/E ratio) at INR 221 price stands at 152.41 on the basis of its diluted earnings per share for FY25. At the lower end of the price band, the P/E ratio stands at 144.83.

The anchor bidding for Pine Labs' IPO will take place on Thursday (November 6), while the issue will close on November 11. The shares are expected to l...