Explore the latest news, in-depth reports, and executive analysis tagged with #Amrish Rau.
The company’s total expenditure increased 16% to Rs 770 crore during the quarter from Rs 662 crore in the year-ago period.
Last year, OpenAI had partnered with another Indian fintech company Razorpay and NPCI to launch agentic payments on ChatGPT and explore AI-driven commerce in India.
As part of the partnership, Wio Bank will deploy Credit+, Pine Labs’ modular, API-first acquiring platform, to power its core acquiring operations.
The IPO, set to open between 7 and 11 November, is at a similar timing when another fintech major Groww is planning to go public at around $7-8 billion valuation.
Kamath replaces Marc Mathenz, who exited Pine Labs in June, just before the filing of the draft red herring prospectus (DRHP) with Sebi.
With Pine Labs headed for an IPO, CEO Amrish Rau could pocket Rs 800-1,000 crore via OFS. The Head and Tale tracks where else he's poised to cash in.
Conversations with half a dozen industry insiders reveal a company that is struggling to articulate a coherent growth narrative and a unified brand story.
Pine Labs chief financial officer Marc Kay Mathenz has also resigned from the company.
Amrita Gangotra, Smita Chandramani Kumar, and Maninder Singh Juneja have been appointed as independent directors.
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.
On April 9, the NCLT sanctioned the scheme of amalgamation between Pine Labs Private Limited (India) and Pine Labs Limited (Singapore).
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.
