Pine Labs IPO: Price band set at ₹210-221 per share
Pine Labs is opening its IPO soon, with shares priced between ₹210 and ₹221 each.
The offering runs from November 7-11, featuring a fresh issue of ₹2,080 crore and an offer for sale worth ₹1,820 crore.
At the top price, Pine Labs will be valued at about ₹25,377 crore ($2.6 billion)—almost half its $5 billion valuation in 2022.
Pine Labs's revenue jumped 28.5% in FY25
Pine Labs helps businesses accept digital payments and manage commerce both in India and globally.
The company's revenue jumped 28.5% to ₹2,274 crore in FY25 compared to last year.
In Q1 FY26 alone, it posted a net profit of ₹4.8 crore on revenue of ₹615 crore—showing steady growth.
Big investors like PayPal and Mastercard are partially exiting
Big investors like PayPal and Mastercard are partially exiting through this IPO.
There's also a hefty employee stock option pool of ₹1,360 crore set aside; CEO Amrish Rau holds about 23 million options himself.
The IPO is expected to list on November 14.
Like several other Indian startups lately, Pine Labs is going public at a lower valuation than its last private round—reflecting changing market vibes even as fintech stays hot.