Pine Labs to open $234.3m IPO on Nov 7
- ByStartupStory | November 2, 2025
Pine Labs to Open $234.3 Million IPO on November 7, 2025
Pine Labs, a leading Indian fintech unicorn specializing in merchant commerce platforms and payment solutions, is set to launch its initial public offering (IPO) on November 7, 2025, with the subscription window closing on November 11. The IPO aims to raise approximately ₹2,080 crore (roughly $234.3 million) through a fresh equity issue, accompanied by an offer for sale (OFS) by existing shareholders of about 8.23 crore shares.
This IPO size reflects a trimmed-down version of Pine Labs’ earlier plan, which targeted ₹2,600 crore through fresh shares and a larger secondary sale, following regulatory approvals and market considerations. The shares are expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) by November 14, 2025.
Pine Labs provides payment acceptance and merchant commerce solutions across India and global markets, competing with established players like Paytm, Razorpay, and PhonePe domestically, and firms like Adyen and Shopify internationally. The company plans to use the IPO proceeds for debt repayment, investment in subsidiaries such as Qwikcilver Singapore and Pine Labs UAE, cloud infrastructure expenditure, technology development initiatives, and digital checkout point procurement.
Anchor investor bidding for the IPO will take place on November 6. Major existing investors participating in the OFS include Peak XV Partners, Actis, PayPal, Mastercard Asia/Pacific, Temasek through Macritchie Investments, and Sofina Ventures S.A., who are offloading parts of their stakes to diversify holdings and provide liquidity.
Pine Labs’ IPO represents a key milestone in its growth trajectory, enabling further expansion of its merchant commerce platform and reinforcing its position as a fintech innovator in India and beyond.
In summary, the Pine Labs IPO opening on November 7 signals a significant capital raise for the firm, positioning it to accelerate product development and international expansion while offering investors a stake in one of India’s fast-growing fintech companies.
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