Pine Labs to raise $700 million in October IPO
Pine Labs, a major player in fintech, is gearing up to raise up to $700 million through its IPO this October.
The offering includes a fresh issue of shares worth ₹26 billion and an offer for sale from founders and big-name investors like Peak XV Partners.
Pine Labs builds payment tech
Pine Labs builds payment tech—think point-of-sale terminals that let stores accept card payments.
Backed by PayPal and Mastercard, they're known for making digital transactions easier for merchants in India and abroad.
Plans for IPO funds and market updates
Pine Labs wants to use the IPO funds for tech upgrades, expanding internationally (they're already active in Singapore, Malaysia, UAE), and paying down debt.
SEBI gave the green light in September 2024. Investor roadshows are underway with top banks advising—but final IPO details could shift as India's fintech market heats up this October.