Pine Labs raises Rs 1,754 crore from anchor investors
07 Nov 2025, 01:10 PMNearly 47% of the total anchor allocation went to 12 domestic mutual funds across around 30 schemes.
Team Head&Tale
Share the story on
Pine Labs has raised Rs 1,754 crore from anchor investors ahead of its initial public offering (IPO), which has opened for subscription today.
The company allotted 7.93 crore equity shares at Rs 221 per share, according to a filing with the National Stock Exchange (NSE).
The anchor round saw participation from over 70 institutional investors, including SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund, Axis Mutual Fund, Aditya Birla Sun Life and Nippon Life India. International investors such as Morgan Stanley, Nomura, Amundi Funds, and The MIT Retirement Fund also subscribed to the allotted shares.
Nearly 47% of the total anchor allocation went to 12 domestic mutual funds across around 30 schemes, reflecting strong domestic demand.
Pine Lab will use the proceeds from the IPO’s fresh issue -- amounting to Rs 2,080 crore -- for debt repayment, technology upgrades, and expanding its international operations.
Pine Labs cut the size of its IPO, which comprises a fresh issue of up to Rs 2,080 crore and offer for sale (OFS) of up to 8.23 crore shares valued at Rs 1,820 crore by existing shareholders, according to its updated prospectus.
The price band is fixed at Rs 210-221 per equity share, giving the fintech major a valuation of $2.7 billion. This is lower than the valuation of $5-6 billion the company was chasing.
Who Reads Us
“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”
“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”
“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”
“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”
“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”
