Pine Labs readies early November IPO launch

Fintech received Sebi nod in September; was last valued at $5 bn in 2022

- Sneha Shah & Mansi Verma

Fintech company Pine Labs, backed by Peak XV, is targeting a public listing by the second week of November. The company's $700 million initial public offering (IPO) is expected to open in the first week of November, according to three people familiar with the plans.

“The company is likely to go public between November 10-15. The bankers are preparing accordingly,” one of the persons cited above said.

Pine Labs is seeking a valuation of around $6 billion in the IPO and counts Temasek, Peak XV, Sofina, and Alpha Wave among its investors. The company was last valued at about $5 billion in early 2022. Other marquee new-age companies eyeing the public market in this window include Groww and Lenskart, Bloomberg reported on Monday.