Pine Labs IPO: Company raises ₹1,754 crore from anchor investors
Pine Labs just secured ₹1,754 crore from 71 anchor investors as it gears up for its ₹3,900 crore IPO opening on November 7.
The offer includes a fresh issue of ₹2,080 crore and an offer-for-sale worth ₹1,820 crore, with shares priced between ₹210 and ₹221 each.
Competing with Paytm and Zaggle
Based in Noida, Pine Labs helps merchants and brands accept digital payments through its technology solutions.
Competing with names like Paytm and Zaggle, it's active not just in India but also in Singapore, Malaysia, and the UAE.
Swing to profit in Q1 FY26
Pine Labs swung to a profit of ₹4.8 crore in Q1 FY26 after a loss in the previous fiscal; revenue rose nearly 18% to ₹616 crore for the quarter.
The IPO funds will go toward paying off debt, expanding overseas, upgrading tech infrastructure—and general business needs.
You can subscribe until November 11; allotment happens November 12 and trading begins November 14.
Big banks like Axis Capital and Morgan Stanley are handling the process.