Pine Labs to launch IPO on November 7, aims to raise ₹2,080 crore through fresh issue

NEW DELHI: Fintech firm Pine Labs is gearing up to launch its initial public offering (IPO) on November 7, aiming to raise Rs 2,080 crore through fresh issue of shares.

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‘The company’s maiden public offering would conclude on November 11. The bidding for anchor investors will open for a day on November 6, according to the red herring prospectus (RHP).

Apart from fresh issue, there would be an Offer for Sale (OFS) of up to 8.23 crore equity shares.

Under the OFS, Peak XV Partners, London-based Actis, PayPal, Mastercard Asia/Pacific, ‘Temasek through Macritchie Investments, Invesco, Madison India Capital, MW XO Digital Finance Fund Holdco, Lone Cascade LP, Sofina Ventures S.A.and Pine Labs co-founder Lokvir Kapoor will be divesting their shares in the fintech firm.