India, Nov. 14 -- Fintech major Pine Labs' shares made a strong market debut on the bourses, listing 9.5% above the issue price at INR 242 apiece on the BSE as well as the NSE.

The issue price for the IPO was INR 221. The price band for the public issue was set at INR 210 to INR 221.

The fintech company's shares rose further after listing and were trading at INR 248.75 on the BSE at 10:15 IST, up over 12.5% from the issue price and 2.8% from the listing price. The company's market capitalisation stood at INR 28,477 Cr (about $3.2 Bn) at the time.

Pine Labs's IPO comprised a fresh issue of up to INR 2,080 Cr and an OFS of up to 8.23 Cr shares. At the upper end of the price band, the total issue size stood at INR 3,900 Cr and the company...