Pine Labs's ₹3,990 crore IPO to open on November 7
Pine Labs is gearing up for a ₹3,990 crore IPO, open for subscription from November 7-11.
The offer includes new shares worth ₹2,080 crore and a sale of up to 82.34 million shares by existing shareholders.
If all goes as planned, the company could be valued at up to ₹25,377 crore (about $2.8 billion).
Pine Labs's point-of-sale tech powers transactions for over 9 lakh businesses
Founded in 1998, Pine Labs helps merchants and brands accept digital payments and manage transactions—think point-of-sale tech for over 9 lakh businesses across India and abroad.
They've grown by acquiring companies like Qwikcilver and Mosambee, now serving everyone from small shops to big enterprises in India, Southeast Asia, Australia, the US, and Africa.
Revenue jumped 29% last year; early investors stand to gain
Pine Labs saw its revenue jump 29% last year to ₹2,274 crore while losses shrank to ₹145 crore; it even posted a profit of ₹4.8 crore this June quarter.
Early investors are looking at returns ranging from modest gains to over 400x on their shares.
Money raised will go toward paying off debt, boosting tech infrastructure, and investing in their subsidiaries—so they're clearly planning for more growth ahead.