Pine Labs Files Revised RHP for INR 2,080 Cr Initial Public Offering

Fintech major Pine Labs has filed its RHP for its initial public offering (IPO) which will comprise a fresh issue of up to INR 2,080 Cr and an offer for sale (OFS) of up to 8.23 Cr shares. Notably, the company has cut the size of the public issue. As per its DRHP, the IPO was to comprise a fresh issue of up to INR 2,600 Cr and an OFS of up to 14.78 Cr shares Peak XV Partners, Actis Pine Labs Investment Holdings, Macritchie Investments, PayPal, Mastercard, AIM Investment FundPis (Invesco Developing Markets Fund), Madison India Opportunities IV, Lone Cascade, Sofina Ventures, and cofounder Lokvir Kapoor are among the investors looking to offload their shares via the OFS. The IPO will open on November 7 and close on November 11. Anchor bidding will take place on November 6. The shares are expected to list on the exchanges on November 14. The company receivedSEBI’s nod for its IPO in September. (The story will be updated soon)