Pine Labs Elevates IPO Game with Rs 3,900 Crore Launch

Fintech innovator Pine Labs has successfully raised Rs 1,754 crore from anchor investors, setting the stage for its monumental Rs 3,900 crore initial public offering (IPO), scheduled to open on November 7. The anchor book boasted participation from 71 prominent funds, including Franklin Templeton, Nomura, and Morgan Stanley, highlighting substantial investor confidence.

The IPO, priced between Rs 210 to Rs 221 per share, consists of a fresh issue of shares worth Rs 2,080 crore alongside an Offer for Sale (OFS) valued at Rs 1,819.9 crore. Esteemed investors, including Peak XV Partners and Mastercard Asia/Pacific, are among those divesting shares. The proceeds will fund debt repayment, IT investments, cloud infrastructure, and a global expansion strategy.

Noida-based Pine Labs specializes in digitizing commerce for a diverse clientele, ranging from retail to hospitality. With its expansive digital payment platform, handling Rs 11.42 lakh crore in transactions in FY2025, the company has established itself as a top digital payment processor, both in India and abroad. Pine Labs is slated to debut on the stock market on November 14.