Pine Labs IPO: Payment giant's valuation drops 40% since 2022
Pine Labs, known for its payment solutions and backed by PayPal and Mastercard, is set to go public at a much lower valuation—₹25,400cr, down 40% from what it was worth in 2022.
Shares are priced between ₹210-221 each, reflecting the company's reset expectations as it enters the IPO scene.
Pine Labs trims fresh issue size to ₹2,080cr
Pine Labs has trimmed its fresh issue size to ₹2,080cr (from ₹2,600cr) and cut its offer for sale by nearly half.
CEO Amrish Rau emphasizes that investor trust is key as they push global growth.
Once just a point-of-sale provider, Pine Labs now offers digital payment services to almost a million merchants across 20 countries—and just turned profitable this June with ₹47.86 million in net profit.
With rivals like Razorpay and Paytm in the mix, their IPO highlights how Indian fintechs are making waves worldwide.