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PayPal-backed Pine Labs Files India IPO
Mint New Delhi
|June 27, 2025
Digital payments provider Pine Labs Ltd filed for an initial public offering (IPO) in India, as the government's digitization push fuels a boom in the financial technology space.
The firm seeks to raise as much as ₹2,600 crore selling new shares. It may consider a pre-IPO sale of as much as ₹5,200 crore of shares, a draft red herring prospectus showed.
Shareholders including PayPal Pte Ltd, Mastercard Asia/Pacific Pte Ltd and Peak XV Partners Pine Investment Holdings will sell as many as 147.8 million shares in the IPO.
This story is from the June 27, 2025 edition of Mint New Delhi.
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