Pine Labs IPO Upcoming
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About Pine Labs
Founded in 1998, Pine Labs is a prominent Indian fintech company offering point-of-sale terminals, online payment gateways, and merchant-centric solutions like loyalty programs and gift cards. The company has expanded its presence internationally with teams in California, Singapore, and Australia.
Pine Labs Valuation
Pine Labs aims to enter the capital market by August 2025, targeting a valuation between ₹50,000 crores ($6 billion) and ₹70,000 crores ($8 billion), potentially raising around $1 billion. The IPO will include fresh issues and an offer-for-sale component.
Operations & Performance of Pine Labs
Under CEO Amrish Rau, Pine Labs saw its revenue grow to $200.4 million in FY24, a slight increase from $189.72 million in FY23. Despite this growth, losses widened to $40.68 million from $27.24 million. The company’s international operations are expanding by 50% annually.
Future Plans of Pine Labs
Pine Labs is set to relocate its base from Singapore to India, merging its entities to facilitate an Indian stock market listing. The company focuses on enhancing its consumer-facing business and diversifying revenue streams.