Page 2 - Pine Labs

Pine Labs CEO Amrish Rau may net ₹1,000 crore as firm files for IPO

Pine Labs' DRHP shows CEO Amrish Rau's net worth may cross ₹1,000 crore as he sells shares via OFS, alongside Peak XV, PayPal, Mastercard and other investors

Pine Labs plans ₹2,600 cr IPO; Peak XV, PayPal to trim stakes

Pine Labs files DRHP to raise ₹2,600 crore via fresh issue and OFS; proceeds to repay debt, expand globally, and invest in tech and digital checkout

Pine Labs files DRHP with Sebi for IPO; to raise ₹2,600 cr via fresh issue

Temasek and Peak XV Partners-backed Pine Labs has filed preliminary papers with capital markets regulator Sebi to mobilise funds through an initial public offering (IPO). The IPO is a combination of fresh issuance of equity shares worth Rs 2,600 crore and an offer for sale (OFS) of more than 14.78 crore shares by investor selling shareholders, according to the draft red herring prospectus (DRHP) filed on Wednesday. Under the OFS, Peak XV Partners, London-based Actis, PayPal, Mastercard Asia/Pacific, Temasek through Macritchie Investments, Invesco, Madison India Capital, MW XO Digital Finance Fund Holdco, Lone Cascade LP, and Pine Labs co-founder Lokvir Kapoor will be divesting their shares in the fintech firm. The company plans a pre-IPO placement of shares aggregating to Rs 520 crore. If the pre-IPO placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the tune of Rs 870 crore will be used by the company to repay debt and Rs 760 crore will

Pine Labs CFO Marc Mathenz steps down ahead of $1 billion IPO listing

Group CFO Marc Mathenz has cited personal reasons for leaving Pine Labs as the company prepares to file its DRHP for an IPO expected to raise $1 billion later this year

FM Nirmala Sitharaman signals policy aid to fintechs in Pine Labs visit

Sitharaman may visit more fintech companies and global capability centres across major cities

Pine Labs secures NCLT approval to merge domestic, Singapore entities

The development comes as the Singapore-based digital payments company is shifting its domicile back to India. The cost of the reverse flipping could not be ascertained

US investment firm Invesco reduces fair value of Pine Labs, Swiggy

Pine Labs plans $1 bn IPO in India after getting Singapore court's approval to shift base

Invesco lowers fair value, cutting Swiggy and Pine Labs valuations

US-based investor Invesco valued its 28,844 shares in Swiggy at $219.2 million, implying a total valuation of $12.3 billion, down from $12.7 billion in January 2024

Pine Labs plans $1 billion IPO in India after shift from Singapore

The company may seek a valuation of more than $6 billion in an IPO, according to industry sources

Mastercard-backed fintech firm Pine Labs weighs $1 bn IPO in India

The company may seek a valuation of more than $6 billion in an IPO, the people said, asking not to be identified because the matter is private

Google Wallet partners with Pine Labs to help manage gift cards within app

This partnership comes nearly three weeks after Google announced the launch of its digital wallet application in India

Pine Labs gets approval from Singapore court to relocate base to India

Pine Labs' decision to shift domicile follows a broader trend among fintech firms like PhonePe and Groww, which have also moved their bases back to India

Fintech major BharatPe launches an 'all-in-one' payment acceptance device

The device enables transactions via different methods such as point-of-sale (PoS), quick response (QR) code, tap-and-pay and traditional card payment options such as debit and credit cards

Pine Labs' Setu names former SAP India executive Raisinghani as its CEO

He will work closely with Setu's co-founder Nikhil Kumar, the company said in a release

Zoho launches PoS solution called Zakya for small, medium enterprises

Digital service priced at Rs 649 per month helps in inventory management, omnichannel sales and other back-office tasks

Fidelity reduces valuations of Meesho, Pine Labs as of October 2023

In September 2021, Fidelity led a $570 million round in Meesho along with B Capital Group, a venture capital firm co-founded by Facebook Co-Founder Eduardo Luiz Saverin

USA's Neuberger Berman slashes valuation of India's Pine Labs, PharmEasy

Fintech firm's valuation cut by 38% and online pharmacy's by 21% as start-up investors battle macroeconomic uncertainties

Never said we are deferring our IPO plans: Pine Labs CEO B Amrish Rau

'Central bank digital currency (CBDC) and Digital Rupee open up exciting opportunities and if implemented correctly'

Pine Labs partners ICICI Bank to enable Digital Rupee on PoS terminals

Digital Rupee opens up exciting opportunities and if implemented correctly, it can accelerate the migration from paper-based currency to digital, said Pine Labs CEO B Amrish Rau

Pine Labs acquires enterprise platform from Saluto Wellness for unknown sum

The deal would help Pine Labs strengthen its offerings across employee rewards and recognition, customer loyalty, and channel partner programmes for medium and large enterprises