Pine Labs Set to Launch Blockbuster IPO: All Eyes on the Fintech Trailblazer
Pine Labs, backed by Temasek and Peak XV Partners, has filed papers for an IPO with Sebi. The IPO consists of fresh equity worth Rs 2,600 crore and a sale by selling shareholders. Proceeds will repay debt, invest in technology, and expand globally. Shares to list on BSE and NSE.
- Country:
- India
Pine Labs, the fintech company supported by heavyweights Temasek and Peak XV Partners, has taken a pivotal step by filing preliminary papers with the Securities and Exchange Board of India (Sebi) to initiate its much-anticipated initial public offering (IPO).
The IPO strategy presents a blend of fresh equity share issuance accumulating Rs 2,600 crore and an extensive offer for sale of over 14.78 crore shares by investor selling shareholders, encompassing prominent names like Peak XV Partners, Actis, PayPal, and Mastercard, among others.
The financial blueprint outlines the utilization of Rs 870 crore from proceeds to clear existing debts and Rs 760 crore targeting technology enhancements. Pine Labs aims to expand its global footprint and strengthen its core digital payment solutions, positioning itself robustly against competitors in the domestic and international fintech arena.
(With inputs from agencies.)
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