Mumbai, November 1, 2025 — Fintech major Pine Labs is set to launch its initial public offering (IPO) on November 7, aiming to raise ₹2,080 crore through a fresh issue of equity shares.
The IPO will also include an Offer for Sale (OFS) of up to 82.35 million shares by existing investors, including Peak XV Partners, Actis, PayPal, Mastercard Asia/Pacific, and Temasek’s Macritchie Investments. The total issue size is expected to be around ₹3,500 crore.
The subscription window for the public offering will remain open until November 11, with the anchor book scheduled to open on November 6.
According to the Red Herring Prospectus (RHP), Pine Labs plans to use the proceeds to invest in its international subsidiaries such as Qwikcilver (Singapore), Pine Payment Solutions (Malaysia), and Pine Labs UAE, as part of its global expansion strategy.
The Bengaluru-based company operates in the merchant payments and lending space, competing with domestic players like Paytm, Razorpay, and PhonePe, as well as global firms such as Adyen and Shopify.
Pine Labs received approval from the Securities and Exchange Board of India (SEBI) on September 11 after filing its draft papers in June. The final price band for the IPO is expected to be announced shortly.
