Pine Labs files RHP for IPO; to raise ₹2,080 cr via fresh issue

FINTECH MAJOR PINE Labs, which operates in the merchant payments and lending space, has submitted its Red Herring Prospectus (RHP) tothe Securities and Exchange Board of India (Sebi) for its upcoming initial public offering (IPO).

- ANEES HUSSAIN Bengaluru, November 1

As per the document, the public issue comprises a fresh equity issuance aggregating ₹2,080 crore, alongside an offer for sale (OFS) of up to 82.34 million shares by existing investors.

Leading the OFS is Peak XV Partners Pine Investment Holdings, which plans to offload up to 23 million shares. Other key sellers include Actis Pine Labs Investment Holdings (up to 8.8 million shares), Macritchie Investments (a Temasek entity) (up to 8.75 million shares), PayPal (up to 6.79 million shares), and Mastercard Asia/Pacific (up to 5.93 million shares).