Back to Industry News
Fintech
Pine Labs Moves Forward with IPO at Lower Valuation, Smaller Offering
Summary generated with AI, editor-reviewed
Heartspace News Desk
•Source: TechCrunch, TechCrunch
TL;DR
Pine Labs is proceeding with its IPO, but has lowered its valuation to $2.9 billion, a 40% drop from its private valuation in 2022, with shares priced between ₹210 and ₹221. The company has reduced the size of its primary offering and the offer for sale, though investors like Peak XV Partners and Temasek Holdings will still be selling shares.
Stay updated on stories like this
Key takeaways
- Pine Labs, an Indian merchant-commerce platform, is moving forward with its initial public offering (IPO), as reported by TechCrunch
- The company has revised its valuation to approximately $2
- 9 billion, a 40% decrease from its 2022 private valuation of over $5 billion
Pine Labs, an Indian merchant-commerce platform, is moving forward with its initial public offering (IPO), as reported by TechCrunch. The company has revised its valuation to approximately $2.9 billion, a 40% decrease from its 2022 private valuation of over $5 billion. The IPO price band is set between ₹210 and ₹221 per share.
Pine Labs has also reduced the size of its primary offering by 20% to ₹20.8 billion (approximately $234 million). Furthermore, the offer for sale component has been scaled back by 44%. While investors including Peak XV Partners, Temasek Holdings, PayPal, and Mastercard will be selling a portion of their shares, CEO Amrish Rau stated that this decision reflects investors' desire to retain a larger stake in the company.
Related Topics
Pine LabsIPOFintechValuationFundingInvestmentMerchant Commerce
Never miss stories like this
Verified mention available
Free to claim
Is this your company?
Set up real-time alerts and keep your Heartspace News coverage accurate. Verified teams can update profiles, request corrections, and collaborate on future stories.
Set up alerts Takes under 1 minute • Verified manually