Fintech firm Pine Labs files papers with Sebi for Rs 2,600 crore IPO

Pine Labs, the fintech firm known for its merchant payments and point-of-sale solutions, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth Rs 2,600 crore ($304 million).

As per the draft papers, the company plans to issue fresh shares amounting to Rs 2,600 crore. In addition, existing shareholders, including Peak XV Partners, PayPal, and Mastercard, will offload up to 147.8 million shares in the offer for sale.

The proceeds from the fresh issue will be…