Fintech firm Pine Labs has successfully raised ₹1,754 crore from anchor investors, a day before opening its much-anticipated ₹3,900 crore IPO for public subscription.
The anchor round drew strong interest from 71 global and domestic funds, including Franklin Templeton, Nomura, Morgan Stanley Asia Singapore, Amundi Funds, MIT, BNP Paribas, and Eastspring Investments. Indian participants included SBI Mutual Fund, Aditya Birla Sun Life MF, HSBC MF, Tata MF, Edelweiss MF, and ICICI Prudential Life Insurance.
Pine Labs allocated 7.93 crore shares at ₹221 each to anchor investors. Notably, 12 mutual funds secured 3.75 crore shares, representing 47.26% of the total anchor allocation.
The IPO opens on November 7 and closes on November 11, with a price band of ₹210–₹221 per share, valuing the company at over ₹25,300 crore. It includes a fresh issue worth ₹2,080 crore and an Offer for Sale (OFS) of ₹1,819.9 crore by investors such as Peak XV Partners, Actis, PayPal, Mastercard, Temasek, Invesco, Sofina Ventures, and co-founder Lokvir Kapoor.
Funds raised will go toward debt repayment, IT infrastructure upgrades, technology development, and international expansion through subsidiaries in Singapore, Malaysia, and the UAE.
The Noida-based fintech major operates across digital payments, merchant solutions, and card issuance, processing ₹11.42 lakh crore in transactions across 5.68 billion payments in FY2025. Its network serves over 9.88 lakh merchants and 716 consumer brands, competing with Paytm, Razorpay, PhonePe, PayU, and Infibeam in India.
Pine Labs’ shares are scheduled to list on November 14.
