Pine Labs gets Sebi nod for likely $1 billion IPO
India’s markets regulator has approved the initial public offering of fintech firm Pine Labs , a document on its website showed on Monday.
The IPO could be worth $1 billion and the company, which competes with Paytm and Walmart’s PhonePe, is seeking a valuation of up to $6 billion, Reuters reported in June.
Pine Labs offers full-stack payment solutions such as point-of-sale machines to merchants for card payments. It will use the IPO proceeds to invest in overseas units, develop technology and pare down debt.
