New updates have been reported about Pine Labs (PC:PINLB)
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Pine Labs, a prominent Indian fintech company, is set to go public with a valuation approximately 40% lower than its last private funding round. The company, which is supported by notable investors such as PayPal and Mastercard, has established a price range of ₹210–₹221 per share, translating to a valuation of about ₹254 billion at the higher end. This marks a significant decrease from its previous valuation of over $5 billion in 2022. In preparation for the IPO, Pine Labs has adjusted its primary offering, reducing it by 20% to ₹20.8 billion, and has also decreased the offer for sale by 44% to 82.3 million shares. Key investors, including Peak XV Partners and Temasek Holdings, are among those reducing their stakes.
CEO Amrish Rau emphasized the strategic decision to retain more investor holdings, aiming to foster goodwill and support for the IPO. Founded in 1998, Pine Labs has evolved from providing point-of-sale terminals to offering a comprehensive suite of fintech services, including bill payments and account-aggregator transactions. With 70% of its revenue derived from digital infrastructure and transaction services, Pine Labs is expanding its international footprint, aligning with India’s push for globally competitive fintech solutions. The company, which serves over 980,000 merchants and operates in 20 countries, reported a 58% revenue growth from international markets between 2023 and 2025. Pine Labs recently turned profitable, posting a net profit of ₹47.86 million in the June quarter, with a 17.9% increase in revenue year-over-year. As it prepares for its listing, Pine Labs is part of a broader trend of Indian tech firms seeking public offerings, alongside companies like Groww and Meesho.
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