Indian fintech agency Pine Labs is gearing up for a home preliminary public providing (IPO) within the second half of 2025, CEO Amrish Rau instructed Reuters.
India’s fairness markets have seen over US$1 trillion wiped off in market capitalisation amid weak investor sentiment.
Nonetheless, Rau indicated that Pine Labs stays dedicated to its IPO timeline and is concentrated on long-term development quite than short-term market fluctuations.
Whereas acknowledging that market situations may affect the timing, he stated any delay wouldn’t be a serious setback, as the corporate is already ready for a public itemizing.
A supply conversant in the matter stated the deliberate IPO is anticipated to boost round US$1 billion, comprising each contemporary capital and stake gross sales by current buyers. Rau didn’t affirm the IPO measurement.
If profitable, it will be the nation’s second-largest fintech itemizing, following Paytm’s US$2.5 billion IPO in 2021.
The corporate gives a spread of fee options, together with point-of-sale terminals for retailers.
Pine Labs, which was valued at US$5 billion in 2022, counts enterprise capital agency Peak XV, PayPal, Mastercard, and Singapore’s Temasek amongst its buyers.
The corporate is increasing its income streams by providing expertise options to banks, fintech companies, and firms.
Pine Labs is awaiting regulatory approval to shift its company domicile to India.
Within the monetary 12 months 2023-24, Pine Labs reported income of US$200.4 million, a slight enhance from US$189.72 million the earlier 12 months.
Nonetheless, losses widened to US$40.68 million from US$27.24 million, in keeping with its monetary disclosures.
Featured picture credit score: Edited from LinkedIn
