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Pine Labs plans IPO in 2025 targeting up to 1 billion dollars

Pine Labs, an Indian fintech firm, is set to launch its IPO in the second half of 2025, aiming for a valuation between US$6 billion and US$8 billion. The company, which provides payment solutions to over 500,000 merchants, reported an operating revenue of 1,317 crore rupee (US$152.06 million) for FY24, despite a widening net loss. This IPO could become the largest for an Indian fintech since Paytm's US$2.5 billion listing in 2021.

Pine Labs selects banks for one billion dollar IPO in 2026

Pine Labs has selected five investment banks, including Axis Capital, Morgan Stanley, Citigroup, JP Morgan, and Jefferies, to advise on its upcoming $1 billion IPO, expected in the first half of FY26. Axis Capital is the sole domestic banker, reflecting the company's strong ties with Axis Bank. IPO preparations are currently underway, although Pine Labs has not responded to inquiries regarding the matter.
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