Description

Shareholding pattern disclosure for Pine Labs Limited following listing of equity shares, showing 100% public shareholding with no promoter holding.

Summary

Pine Labs Limited has filed its shareholding pattern under Regulation 31(1)(a) following the listing of its equity shares. The filing dated November 13, 2025 shows a distinctive shareholding structure with zero promoter holding and 100% public shareholding comprising 216,316 shareholders holding 1,148,276,377 fully paid-up equity shares.

Key Points

  • Total paid-up equity shares: 1,148,276,377
  • Number of public shareholders: 216,316
  • Promoter & Promoter Group holding: 0% (0 shareholders)
  • Public shareholding: 100%
  • Dematerialized shares: 1,148,276,377 (100%)
  • Outstanding convertible securities: 58,860,705 shares
  • Fully diluted share capital: 1,207,137,082 shares
  • Diluted shareholding percentage: 101.40%

Regulatory Compliance

Filing Details:

  • Filed under: Regulation 31(1)(a)
  • Security type: Equity Shares
  • Filing date: November 13, 2025
  • Status: Post-issue

Declarations Made:

  • Partly paid-up shares issued: Yes
  • Convertible securities issued: No
  • Warrants issued: Yes
  • Outstanding ESOPs granted: Yes
  • Depository receipts against shares: No
  • Locked-in shares: No
  • Pledged shares (Promoters): No
  • Non-Disposal Undertaking: No
  • Other encumbrances on promoter shares: No
  • Differential voting rights shares: No
  • Significant beneficial owners: No

Shareholding Structure

Public Shareholding (100%):

  • Number of shareholders: 216,316
  • Total shares held: 1,148,276,377
  • Voting rights: 1,148,276,377 (100%)
  • Dematerialization: 1,050,272,159 shares (91.47%)

Promoter & Promoter Group (0%):

  • No promoter holding reported

Outstanding Convertible Securities:

  • Total: 58,860,705 shares underlying convertible securities
  • Impact on diluted capital: Increases shareholding base to 101.40% on conversion

Important Dates

  • Post-issue filing date: November 13, 2025

Impact Assessment

Market Impact: The listing of Pine Labs Limited represents a significant market event with a unique shareholding pattern showing complete public ownership from the outset. The absence of promoter holding is unusual for Indian listed companies and indicates either a complete exit by original promoters or a professional investor-backed structure.

Liquidity Considerations: With 216,316 public shareholders and 100% free float, the stock is expected to have high liquidity. The large shareholder base suggests broad-based institutional and retail participation.

Dilution Risk: Investors should note the presence of 58,860,705 shares underlying outstanding convertible securities (approximately 5.12% of current paid-up capital), which could lead to dilution upon conversion. Additionally, outstanding ESOPs may result in further dilution.

Governance Structure: The zero promoter holding structure suggests Pine Labs operates under a professional management model without traditional promoter control, which may appeal to investors seeking governance transparency.

Impact Justification

New listing with unique shareholding structure showing 100% public holding and no promoter group, filed under Reg. 31(1)(a) post-issue as of November 13, 2025