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Pine Labs, a digital commerce and payments company backed by Temasek, has filed draft papers with SEBI for its planned IPO. It intends to raise INR 2,600 crore via fresh equity, while existing investors will sell over 14.78 crore shares through an offer for sale. The funds will go toward debt repayment, upgrading IT and cloud infrastructure, technology development, expanding digital checkout services, and strengthening subsidiaries in Singapore, Malaysia, and the UAE. For 2024, Pine Labs processed INR 7,53,105 crore in gross transaction value across 3.97 billion transactions, reported INR 1,208 crore revenue, and a INR 26.14 crore profit. It serves 9.15 lakh merchants, 666 brands, and 164 financial institutions.
Pine Labs, a Temasek-backed technology company, has recently filed its draft papers with SEBI for an upcoming public listing. This action signals its intent to raise substantial capital from the market for its operations in India and abroad, supporting its business expansion plans and enhancing its digital commerce solutions. Advertisement
The company aims to raise INR 2,600 crore through a fresh issue of equity shares. Additionally, existing investors plan to sell over 14.78 crore shares through an offer for sale (OFS) component. The proceeds from the fresh issue are earmarked for debt repayment, investment in IT assets, cloud infrastructure, technology development, procurement of digital checkout points, and expansion into its subsidiaries in Singapore, Malaysia, and the UAE.
Pine Labs, based in Noida, specializes in digitizing commerce, providing digital payments and issuing solutions for merchants, consumer brands, enterprises, and financial institutions. For the fiscal year ended December 31, 2024, the company processed transactions worth INR 7,53,105 crore in gross transaction value and handled 3.97 billion transactions. It reported a revenue from operations of INR 1,208.2 crore and a profit after tax of INR 26.14 crore for the same period. Pine Labs serves over 9.15 lakh merchants, 666 consumer brands and enterprises, and 164 financial institutions.
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