Pine Labs IPO, Nov. 6 -- Fintech company Pine Labs is set to launch its initial public offering (IPO) on Friday, November 7. The Rs.3,900 crore book build issue, which combines a fresh issue of 9.41 crore shares and an offer for sale (OFS) of 8.23 crore shares, will remain open until Tuesday, November 11.

According to the Red Herring Prospectus (RHP) of Pine Labs IPO, as many as 10 investors are offloading some of their stakes in the OFS. Meanwhile, the RHP states that Pine Labs does not have an identifiable promoter in terms of the SEBI ICDR Regulations and the Companies Act, 2013.

According to grey market sources, the last grey market premium (GMP) of Pine Labs IPO was Rs.12. Considering the upper price band of the mainboard IPO at Rs...