Pine Labs Files for ₹2,600 Crore IPO to Expand Fintech Reach

Pine Labs, a company based in Noida that helps shops with digital payment machines and online payment tools, wants to raise ₹2,600 crore by selling its shares to the public. This process is called an IPO (Initial Public Offering). The company has already shared its plan with SEBI, India’s stock market regulator.

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What Will Pine Labs Do With the Money?
Repay Loans: The company plans to use around ₹870 crore to pay back some of its loans.

Develop New Technology: It will invest in building new technology and better digital checkout tools.

Expand Internationally: Pine Labs wants to grow its business in other countries such as Singapore, Malaysia, and the UAE. It will do this by supporting its own companies like Qwikcilver SG and Pine Labs UAE.

General Business Needs & Acquisitions: Some of the money will be used for everyday business expenses and also for buying other companies if needed.

Who Is Selling Their Shares?
Along with new shares from Pine Labs, some older investors are also planning to sell part of their shares. These investors include big names like Peak XV (which was earlier known as Sequoia India), PayPal, Mastercard, and Temasek. Together, they may sell up to 14.78 crore shares.

How Much Is Pine Labs Worth?
In its earlier funding rounds, Pine Labs was valued at around $5 billion. Now, with this IPO, it hopes to be valued somewhere between $4 and $5 billion.

Business Performance and Growth
In the nine months ending in December 2024, Pine Labs earned ₹1,208 crore in total income and made a profit of ₹26 crore.

Right now, the company works with more than 9 lakh shopkeepers (merchants), 164 banks, and over 600 brands all over the world.

Its revenue has also grown well over the last three years — from ₹933 crore in 2022 to ₹1,344 crore in 2024, which is a 44% increase.