Pine Labs executives' earnings and anticipated IPO windfall
Pine Labs, a major player in fintech, is looking to raise ₹2,600 crore through its upcoming IPO.
The money will come from new shares and a sale by big investors like PayPal and Mastercard.
There's also talk of an extra pre-IPO placement worth up to ₹520 crore.
Pine Labs powers digital payments
Pine Labs builds payment tech for banks and businesses—think digital platforms and point-of-sale devices used by 915,731 merchants in India and abroad.
Their tools power things like buy-now-pay-later offers and cross-border payments, making them a backbone for digital transactions rather than just another consumer app.
Debt repayment, overseas expansion, cloud tech upgrades
Most of the IPO funds are set aside to pay off ₹870 crore in debt. Pine Labs also plans to invest in its overseas subsidiaries (Singapore, Malaysia, UAE) and upgrade its cloud tech.
Top execs stand to gain too—CEO Amrish Rau could see his stake valued at up to ₹1,000 crore if all goes well with the listing.