Tech
Pine Labs files for Rs 2,600 crore IPO; Peak XV, PayPal to pare holdings
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Pine Labs has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), marking its intent to go public with a Rs 2,600 crore fresh issue and an offer for sale (OFS) of up to 147.8 million shares.
The Noida-based merchant commerce firm is backed by some of the biggest names in global fintech investing. Peak XV Partners (formerly Sequoia India), Temasek’s Macritchie Investments, PayPal, Mastercard, Invesco, Actis, and Madison India are among the investors looking to partially exit through the OFS. Cofounder…
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