Pine Labs IPO: PayPal-Backed Fintech Prepares for $700 Million Listing in October

The IPO season in India is getting more exciting, and one of the biggest names in fintech—Pine Labs Ltd—is stepping into the spotlight. Backed by global giants like Mastercard and PayPal, Pine Labs has started its preparations for a much-awaited public debut.

The company is aiming to raise $700 million through its initial public offering (IPO), marking one of the largest upcoming listings in the digital payments space this year.

Market Performance and Timing

According to Bloomberg, Pine Labs has already initiated roadshows with investors. The IPO is planned for the second half of October 2025, a period already buzzing with multiple high-profile listings.

Interestingly, the size of the IPO has been scaled down from the earlier target of $1 billion. This change comes after current investors decided to reduce the size of their share sale.

Pine Labs IPO Details

Here’s a breakdown of the key details around the upcoming offering:

• Total Issue Size: $700 million
  
  
• New Issue of Shares: ₹26 billion (approx. $295 million)
  
  
• Offer for Sale (OFS): 147.8 million shares
  
  
• Selling Shareholders: Founder and existing investors including Peak XV Partners, Pine Investment Holdings, and Invesco Investment Funds
  
  
• Advisors to the IPO: Axis Bank Ltd, Morgan Stanley, Citigroup Inc., JPMorgan Chase & Co., and Jefferies Financial Group Inc.
  
  

Regulatory Approval

Pine Labs filed its draft red herring prospectus (DRHP) with SEBI on June 25, 2025. The market regulator gave its nod earlier this month, clearing the way for the company to move ahead with the listing.

Company Profile: Pine Labs Ltd

Pine Labs is a leading digital payments and financial technology company that offers a wide range of solutions:

• Point-of-Sale (POS) Terminals – powering merchant transactions across sectors
  
  
• Payment Solutions for Consumers and Businesses – bridging the gap between retailers and customers
  
  
• Geographic Reach – operations extend beyond India into Singapore, Malaysia, and the UAE
  
  

Financial Snapshot (FY24)

• Revenue: ₹13.4 billion
  
  
• Net Loss: ₹1.9 billion
  
  

Despite the losses, the company’s scale, technology-driven approach, and presence in international markets highlight its long-term positioning in the fintech industry.

Why This IPO Matters

The Pine Labs IPO is happening at a time when India’s fintech sector is witnessing rapid expansion. Government-led digitization efforts are pushing businesses and consumers alike to adopt cashless solutions.

For Pine Labs, going public isn’t just about raising funds. It’s about strengthening its brand in a market that’s becoming increasingly competitive while opening doors to more growth opportunities abroad.

Final Word

Pine Labs Ltd’s IPO is set to be one of the most closely watched listings in the fintech space this year. With $700 million on the table, strong institutional backers like PayPal and Mastercard, and a growing international presence, Pine Labs is aiming to make a strong impression on the primary market.

As always, the fine details of size and timing may still shift before the official launch, but one thing is clear—this IPO is going to draw massive attention from the market.