Overview
- The anchor book opens on November 6, with public subscription scheduled from November 7 to 11, according to the red herring prospectus.
- The offer comprises a Rs 2,080 crore fresh issue and an offer for sale of about 82.35 million shares by existing holders, including Peak XV Partners, Actis, PayPal, Mastercard Asia/Pacific, Temasek, Invesco and co-founder Lokvir Kapoor.
- Pine Labs reduced the issue from its June draft that sought Rs 2,600 crore in new shares and up to 147.8 million OFS shares, reflecting a smaller sell-down by investors.
- Use of proceeds includes repaying debt, investing in IT and cloud infrastructure, procuring digital checkout devices, funding product development and supporting subsidiaries in Singapore, Malaysia and the UAE.
- The company reported a Rs 4.8 crore net profit in Q1 FY26 due to a Rs 9.6 crore tax credit against a pre-tax loss, and in FY25 it processed Rs 11.42 lakh crore in GTV across 5.68 billion transactions.