New Delhi: Shares of fintech firm Pine Labs on Friday made a firm market debut closing with a premium of over 14 per cent against the issue price of
Rs 221.
The stock began trading at Rs 242 apiece, up 9.5 per cent on the NSE. In the intra-day session, the scrip of the company surged 28.51 per cent to Rs 284. Finally, the stock settled 14.03 per cent higher at Rs 252.
On the BSE, the shares listed at Rs 242, a premium of 9.5 per cent. In the session, it jumped 28.37 per cent to hit a intra-day high of Rs 283.70 apiece.
Later, it ended at Rs 251.30, up by 13.71 per cent on the BSE.
The company’s market valuation stood at Rs 28,936.56 crore and Rs 28,856.19 crore, on the NSE and BSE, respectively.
The markets ended in the negative territory. The BSE Sensex ended 84.11 points, or 0.10 per cent, higher at 84,562.78, while the NSE Nifty went up 30.90 points, or 0.12 per cent, to settle at 25,910.05.
On Tuesday, the final day of the share sale, the Pine Labs IPO received 2.46 times subscription.
Fintech firm Pine Labs on Thursday raised Rs 1,754 crore from anchor investors.
The firm has fixed a price band of Rs 210-221 per share for its IPO, targeting a valuation of over Rs 25,300 crore.