Pine Labs Day 1 GMP Live: Fintech to D-Street – Rs 3,900 crore IPO opens today – Should you apply?

Pine Labs raised Rs 1,754 crore from anchor investors on Thursday, a day before the opening of its initial public offering for public subscription. According to a notice on the BSE website, the anchor book saw participation from 71 funds, including Franklin Templeton, Nomura, Morgan Stanley Asia Singapore Pte Ltd, Amundi Funds New Silk Road, the Massachusetts Institute of Technology, BNP Paribas, and Eastspring Investments.

Among domestic participants, SBI Mutual Fund, Aditya Birla Sun Life MF, HSBC MF, Tata MF, Edelweiss MF, and ICICI Prudential Life Insurance Company also subscribed to the anchor portion. The company has allocated 7.93 crore equity shares to anchor investors at a price of Rs 221 per share, the notice said.