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PayPal-backed Pine Labs Files India IPO
Mint Bangalore
|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.
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