Pine Labs IPO, Nov. 11 -- The initial public offering (IPO) of Pine Labs, which opened for subscription on Friday, November 07, witnessed lacklustre demand for the company shares. However, the IPO managed to sail through on the last and final day of bidding.

At the end of the third day of the bidding process, Pine Labs IPO received bids for 24.11 crore shares against the total offer of 9.71 crore shares, resulting in an overall subscription of 2.48 times, according to exchange data.

The non-institutional investors (NII) and qualified institutional buyers (QIB) portions were subscribed 3.97 times and 0.30 times, respectively. The retail portion was subscribed 1.27 times, while the employee segment displayed significant enthusiasm, being ...