365Telugu.com online news, Hyderabad, June 27, 2025: Pine Labs Limited, a technology company specializing in digital payments and issuing solutions, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO).
The IPO comprises a fresh issue of equity shares aggregating up to ₹26,000 million (₹2600 crore) and an offer for sale of up to 147,822,225 equity shares by existing selling shareholders.
Key Highlights:
Business Focus: Pine Labs focuses on digitizing commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions.
Financial Performance (Nine Months ending Dec 31, 2024):
Gross Transaction Value (GTV): ₹7,531.05 billion
Transactions Processed: 3.97 billion
Customer Base (As of Dec 31, 2024):
Merchants: 915,731
Consumer Brands and Enterprises: 666
Financial Institutions: 164
Market Leadership (as per Redseer Report, FY2024):
Largest player in closed and semi-closed loop gift card issuances by transaction value in India.
Largest digital affordability solution enablers at DCPs (Digital Payment Points) in terms of total processed value.
Among the top five in-store digital platforms.
Prominent Bharat Connect transactions processing solutions provider.
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Services Offered: Wide suite of services within its Digital Infrastructure and Transaction Platform and Issuing and Acquiring Platform.
Listing: The equity shares are proposed to be listed on the BSE Limited (BSE) and National Stock Exchange of India Limited (NSE).
Book Running Lead Managers (BRLMs): Axis Capital Limited, Morgan Stanley India Company Private Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Jefferies India Private Limited.