Pine Labs eyes IPO in second half of 2025
26 Mar 2025, 08:41 AMIf reports are to be believed then Pine Labs is eyeing a $1 billion public listing, which would comprise of issue of fresh equity shares as well as an offer for sale.
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Payments major Pine Labs is reportedly planning to launch its initial public offering (IPO) in the second half of 2025.
"Despite the ongoing correction in the Indian market, the company will remain committed to its IPO timeline," Pine Labs CEO Amrish Rau told Reuters, without disclosing the IPO size. "We would want to go for an IPO in the second half of this year."
He further added that he should be more focussed on building a company which is here to last for long and not get swayed by the market conditions.
If reports are to be believed then Pine Labs is eyeing a $1 billion public listing, which would comprise of issue of fresh equity shares as well as an offer for sale.
The Noida-based company -- which was last valued at $5 billion in 2022 -- targets a valuation between $6-$8 billion for its IPO.
Founded in 1998, Pine Labs is a point-of-sale terminals (PoS) major, which also has received an online payment aggregator licence from the Reserve Bank of India. Peak XV Partners owns majority stake in Pine Labs. Temasek, PayPal, and Mastercard are other marquee investors.
The company is also in the process of shifting its domicile from Singapore to India. In August last year, it received the initial approval from the National Company Law Tribunal (NCLT) for reverse flip.
Last year, The Head and Tale exclusively reported the exit of Pine Labs’ chief revenue officer, Navnit Nakra.
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