Pine Labs, the Indian merchant payments platform, secured approximately ₹1,753 crore from anchor investors ahead of its initial public offering (IPO). The company allotted around 7.9 million (79 lakh) shares at ₹221 per share, the upper end of its price band.
Anchor participation included over 70 institutional investors such as domestic mutual funds among them SBI Mutual Fund, Aditya Birla Sun Life MF, Mirae Asset MF and global entities including the Massachusetts Institute of Technology Retirement Plan Trust (MIT Retirement Fund). Domestic mutual funds accounted for roughly 47% of the allocation, representing more than ₹828 crore.
IPO Details and Valuation
The IPO is structured with a fresh issue of approximately ₹2,080 crore and an offer for sale (OFS) of about ₹1,820 crore, bringing the total issue size to around ₹3,900 crore. The price band has been set at ₹210–₹221 per share, valuing the company at about $2.9 billion at the upper end.
Fintech Evolution & Investor Sentiment
Pine Labs, backed by investors like PayPal, Temasek, and Peak XV Partners, has been building out its merchant payments ecosystem with POS terminals, BNPL solutions, and payments infrastructure across India and other markets. The strong anchor book indicates investor confidence in the company’s growth trajectory and business model.
With the IPO just around the corner from November 7 to November 11, 2025 all eyes are on how retail investors will respond and how the market will price the listing.
Keep building. Keep learning. Keep growing with StartupByDoc.