Pine Labs is set to file Draft Papers with SEBI to launch an IPO

Pine Labs, one of the leading players in digital payment solutions, is getting ready to file its DRHP with SEBI by mid-February. According to the sources, the company is taking an approach to shifting its quarters from Singapore to India with a target of entering the capital market by August 2025 at the earliest as they can.

Getting approval for the reverse flipping process is the critical point for Pine Labs, which means the ability to merge their domicile from Singapore to India, this transformation is crucial to get listed in the Indian stock market. As of August 2024, through the sources, we got to know that Pine Labs successfully completed the reverse flipping process and got approval from the NCLT. 

With the finalizing of successfully completing the reverse flipping process, the company is planning to launch an IPO by August. This IPO might comprise of the combination of fresh issue and Offer-for-sale component. 

Axis Capital, Citi, Morgan Stanley, Jefferies, and JPMorgan are the five major investors of the company which will help Pine Labs to invest in the IPO. This IPO might be one of the major IPOs in the digital payment solutions after Paytm whose IPO was worth $20 in 2021. Through launching an IPO, the company might plan to raise an amount worth approximately $1 billion (₹8,425 crore), while the value of the company is $6–8 billion (₹50,000–70,000 crore). 

From Baron Funds, the company received funding of USD 5.8 billion and received funds of USD 4.8 billion from Invesco, a bit lower than Baron in April 2024. The company is targeting a $6 billion valuation for its IPO. 

Pine Labs is planning to highlight the growth of the company by launching this IPO with the aim of raising fresh capital and not just providing an exit for current investors like Peak XV Partners, Temasek, PayPal Ventures, Alpha Wave Global, and Mastercard. The company may be offered up to 20% of shares in the public issue. 

After filing its Draft papers to SEBI, the company will be organizing investor roadshows to attract potential investors, while leaving room for public investors to earn, known from the sources. 

Established in 1998, Pine Labs is your ultimate Fintech company and payment platform to provide seamless payments, and well-organized operations with incredible services like  PoS systems, pay-later options, and loyalty programs. The company has established itself as one of the leading Fintech companies in the industry raising over $1.3 billion since 2009 in funding across 14 rounds.

The Draft papers are set to be submitted by the middle of February 2025, this IPO can be one of the major IPOs of the year in the digital platform sector showcasing an incredible opportunity for investors to invest in. 

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