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

Fintech firm Pine Labs, in its draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (Sebi), plans to raise ₹2,600 crore through a fresh issue and an offer for sale (OFS) of up to 147.82 million shares.

 

Pine Labs may consider a pre-IPO placement of up to ₹520 crore.

 

Investors such as Peak XV Partners, Actis, Macritchie, PayPal, Mastercard, AIM Investment Funds, and Madison India Opportunities IV, among others, are expected to partially exit through the OFS.

 

Pine Labs’ co-founder Lokvir Kapoor is offloading 3.76 million shares in the OFS.

 

Peak XV will pare down