Indian FinTech leader Pine Labs has filed a Draft Red Herring Prospectus with SEBI, aiming to raise ₹2,600 crore via an initial public offering (IPO). The move, announced in June 2025, underscores Pine Labs’ focus on strengthening its position in the digital payments space.
Pine Labs is well known for its point-of-sale systems and online payment platforms that support thousands of merchants across India and international markets. The IPO includes a fresh issue of ₹2,600 crore and an offer-for-sale of up to 14.8 crore shares by existing investors including Peak XV Partners, PayPal and Mastercard.
The funds will be used to enhance Pine Labs’ payment infrastructure, invest in technology development and explore expansion across Asia. Industry experts suggest the IPO is well timed, with India experiencing rapid growth in digital transactions and FinTech innovation.
A Pine Labs spokesperson stated: “This IPO allows us to accelerate innovation and deliver greater value to merchants in India and beyond.” With over 150,000 merchant partners, Pine Labs has played a key role in driving India’s shift towards cashless payments.
The IPO is expected to strengthen Pine Labs’ competitive edge, helping the firm scale its technology, launch new services and expand its footprint in fast-growing markets.
