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Peak XV eyes near 40x returns in Pine Labs IPO
Financial Express Bengaluru
|November 04, 2025
PEAK XV IS set to make a near 40x return on its investment in unicorn Pine Labs, which has priced its initial public offering (IPO) in the range of §210-221. The early backer has a 20.25% stake in the fintech firm and invested at a weighted average price of %5.60 per share. It is looking to sell up to 23 million shares in the IPO, which could fetch it as much as %508 crore at the upper end of the price band.
Returns for other backers would be smaller. Private equity firm Madison India Capital is set for 5.6xreturns, which could translate into a payday of around %66 crore. Belgium-based VC firm Sofina Ventures is eyeing 4.7x
This story is from the November 04, 2025 edition of Financial Express Bengaluru.
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