Pine Labs Secures Rs 1,754 Crore from Anchor Investors Ahead of IPO
- Fintech firm raises Rs 1,754 crore from 70+ anchor investors before IPO.
- IPO worth Rs 3,900 crore opens today with strong domestic and global interest.
- Funds to support debt repayment, tech upgrades, and global expansion.
Pine Labs, one of India’s leading fintech companies, has raised Rs 1,754 crore from anchor investors ahead of its Rs 3,900-crore initial public offering (IPO), which opened for subscription today. The company allotted 7.93 crore equity shares at Rs 221 per share, the upper limit of its price band of Rs 211-Rs 221, as per filings with the National Stock Exchange (NSE).
The anchor book attracted participation from over 70 institutional investors, including top domestic mutual funds like SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential, Axis Mutual Fund, and Aditya Birla Sun Life, as well as global giants such as Morgan Stanley, Nomura, Amundi Funds, and The MIT Retirement Fund. About 47% of the anchor allocation went to 12 domestic mutual funds across 30 schemes, reflecting strong confidence from Indian investors.
The IPO includes a fresh issue worth Rs 2,080 crore and an offer for sale (OFS) of 8.23 crore shares by existing shareholders. Pine Labs plans to use the fresh proceeds for debt repayment, technology upgrades, and international market expansion.
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As per Entrackr’s analysis, Peak XV Partners (formerly Sequoia Capital India) is expected to earn a 39.5X return from the OFS, while Madison India and Sofina Ventures are set to gain 5.6X and 4.7X, respectively.
Financially, Pine Labs reported a 28.5% YoY rise in revenue to Rs 2,274 crore in FY25, while net losses fell 57% to Rs 145 crore. Impressively, the company turned profitable in Q1 FY26, posting a Rs 4.7 crore net profit on revenue of Rs 616 crore.
