Pine Labs Files DRHP For IPO

Pine Labs’ IPO will comprise a fresh issue of shares worth up to INR 2,600 Cr ($304 Mn) and an OFS of up to 14.78 Cr shares.

The OFS will see existing investors Mastercard, Peak XV Partners, Macritchie Investments, Paypal, cofounder Lokvir Kapoor, among others sell their shares

The unicorn will use the proceeds from the fresh issue to repay debt and invest in subsidiaries like Qwikcilver Singapore, Pine Payment Solutions Malaysia, and Pine Labs UAE

Fintech unicorn Pine Labs has filed its draft red herring…