Pine Labs promotes CEO Amrish Rau to MD and chairman ahead of IPO
25 Apr 2025, 05:27 PMRau -- who took over as CEO of Pine Labs in March 2020 -- will also continue to serve as the CEO the Peak XV-backed fintech firm.
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Payments major Pine Labs has promoted its CEO Amrish Rau to the role of managing director and chairman as the company gears up for its anticipated initial public offering (IPO).
Rau's appointment as MD and Chairman is effective from March 24, 2025, and will last for a five-year term, as per a filing with the Registrar of Companies (RoC).
Rau -- who took over as CEO of Pine Labs in March 2020 -- will also continue to serve as the CEO the Peak XV-backed fintech firm.
Recently, The Head and Tale exclusively reported about Pine Labs securing the National Company Law Tribunal (NCLT)'s final approval to merge its Singapore and India entities, paving the way for the fintech company to shift its domicile from Singapore to India.
In a communication sent to shareholders, Pine Labs confirmed that the process to convert Pine Labs India (a private limited company) into an unlisted public company is expected to take three to four weeks.
Further, Pine Labs informed its shareholders that it is continuing to work “full steam” on the various workstreams for the IPO (initial public offering), so that it can file its DRHP with SEBI as soon as the merger is effective.
The PoS (point-of-sale) major is reportedly planning to launch its IPO in the second half of this year. 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 also 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 development was first reported by Entrackr.
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