New Delhi, Nov. 11 -- The Pine Labs IPO, which began on Friday, November 7, is nearing the final day of its subscription period today. So far, the issue has been subscribed by more than 50%, primarily driven by retail investors. Pine Labs IPO price band has been set between Rs.210 and Rs.221 per share. Pine Labs IPO consists of a fresh share issuance valued at Rs.2,080 crore, in addition to an offer for sale (OFS) of over 8.23 crore equity shares, which is estimated to be worth Rs.1,819.9 crore at the upper end of the price range, contributed by existing stakeholders.

The proceeds from the new share issuance will be used by the company to reduce debt, invest in IT assets, cover expenses related to cloud infrastructure, develop technologi...