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A Look At Pine Labs' Shareholding Pattern & Top Leadership

Inc42 · 3m ago

A Look At Pine Labs' Shareholding Pattern & Top Leadership

Pine Labs has filed its draft red herring prospectus (DRHP) to go public, aiming to raise INR 2,600 crore through a fresh issue. The IPO will include an offer for sale of up to 14.78 crore shares from investors like Mastercard, Peak XV Partners, Macritchie Investments, and cofounder Lokvir Kapoor. Significant stakeholders include Peak XV Partners with 20.35%, Macritchie Investments with 7.10%, PayPal with 6%, and CEO B. Amrish Rau with 2.35%.

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Related News

Baron Funds hikes Pine Labs valuation to $5.8 billion, Invesco marks it up to $4.8 billion

Economic Times

Economic Times · 1y ago

Baron Funds hikes Pine Labs valuation to $5.8 billion, Invesco marks it up to $4.8 billion

US funds Baron Funds and Invesco have increased their valuations of Indian digital payments company Pine Labs. Baron Funds now values the company at $5.8bn, up from $5.3bn in September, while Invesco has raised its valuation to $4.8bn from $3.9bn at the end of October. Pine Labs, which provides point-of-sale solutions for merchants, last raised $150m at a valuation of $5bn in 2022. Fidelity, another US fund, marked down Pine Labs' valuation to $3bn in August 2023. Pine Labs reported a net loss of INR2.27bn ($28.76m) for FY23.

Fidelity continues markdowns, cuts fair value of Gupshup and Pine Labs

Money Control

Money Control · 2y ago

Fidelity continues markdowns, cuts fair value of Gupshup and Pine Labs

Fidelity pegged the fair value of Pine Labs at $4.5 billion, while it valued Gupshup at $882 million. Pine Labs was last valued at $5 billion, while Gupshup last raised funds at about $1.4 billion valuation.

Pine Labs appoints Avendus’ Sameer Kamath as CFO ahead of IPO - The Economic Times

Economic Times

Economic Times · 1m ago

Pine Labs appoints Avendus’ Sameer Kamath as CFO ahead of IPO - The Economic Times

Pine Labs, a merchant payments company, appointed Sameer Kamath as CFO, replacing Marc Mathenz. Kamath, with over 20 years’ financial experience, will manage finance strategy, accounting, and investor relations. As Pine Labs prepares for its IPO, targeting a valuation of $4.5–5 billion, Kamath’s expertise is seen as pivotal. The company, supported by major investors, is strengthening its leadership, including the return of Shalini Saxena as general counsel.

Fintech firm Perfios rejigs its top deck

Economic Times

Economic Times · 1y ago

Fintech firm Perfios rejigs its top deck

Bengaluru-based fintech company Perfios has made changes to its top leadership. Co-founder Debasish Chakraborty transitioned from CTO to a mentor for the technology team. Sumit Nigam, formerly head of engineering at BigBasket, is now CTO. Anu Mathew, the former chief people officer at Pine Labs, joins as Perfios' first chief people officer. These changes are part of the company's preparation for a public listing in the next 18-24 months and global expansion. CEO Sabyasachi Goswami said further C-suite hires could strengthen the organization from an IPO perspective.

Pine Labs converts into public, appoints independent directors

Entrackr

Entrackr · 4m ago

Pine Labs converts into public, appoints independent directors

Pine Labs, a merchant commerce and payments platform, is set to debut on the Indian stock exchange, with its Indian entity recently converted into a public company — a key step toward its planned IPO. This conversion comes just weeks after the company received final approval from the National Company Law Tribunal to shift its domicile from Singapore to India. The board at Pine Labs has passed a resolution for approval to change its status to a public company and rename it from “Pine Labs Private Limited” to “Pine Labs Limited” as per its regulatory filing. The fintech unicorn also appointed three independent directors in compliance with the Companies Act, ahead of filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India. Pine Labs has appointed Amrita Gangotra, Smita Chandramani Kumar, and Maninder Singh Juneja as independent directors, as per the filing. Gangotra, with over 35 years of experience in tech and business leadership, also serves on the boards of companies including Triveni Turbine, Max Healthcare, and ABB India. Kumar, a former RBI official with over three decades of experience, and Juneja, who has held senior roles at ICICI Bank, TransUnion CIBIL, and Niva Bupa, also sit on multiple boards. Last month, Pine Labs promoted its Chief Executive Officer (CEO), Amrish Rau, from the role of Additional Director to Managing Director and Chairman. Entrackr exclusively reported the development. The payments firm is eyeing to launch an IPO in the second half of 2025. As per media reports, it’s eyeing a $1 billion public issue and would comprise of issue of fresh equity shares and an offer for sale (OFS). Pine Labs also roped in Axis Capital, Morgan Stanley, Citigroup, JP Morgan, and Jefferies as bankers. Pine Labs is a merchant commerce platform that offers POS (point of sale) services which let merchants accept plastic cards and QR-based payments in their stores. It also offers Buy Now Pay Later (BNPL), invoice management, and gifting solutions to merchants. According to startup data intelligence platform TheKredible, Pine Labs has raised nearly $1.3 billion in funding to date from investors including Peak XV Partners, Temasek, PayPal, Mastercard, and others. The company currently holds a valuation of $5 billion.

Pine Labs gets NCLT nod to reverse flip Singapore entity

Economic Times

Economic Times · 5m ago

Pine Labs gets NCLT nod to reverse flip Singapore entity

Pine Labs has received approval from the National Company Law Tribunal (NCLT) to merge its Singapore entity with its Indian entity, effectively reverse flipping its parent company back to India. This aligns Pine Labs with other fintech firms like Groww and potentially Razorpay making similar moves. With all statutory and regulatory approvals in place, Pine Labs plans to list on Indian stock exchanges. The company, valued at $5 billion, aims for a billion-dollar IPO despite market uncertainties.

Invesco reduces fair value of Pine Labs, Swiggy

Economic Times

Economic Times · 1y ago

Invesco reduces fair value of Pine Labs, Swiggy

Invesco, a US-based investor, has reduced the fair value of fintech company Pine Labs and food delivery firm Swiggy in its books, according to its half-yearly shareholder report. As of April 30, Pine Labs was valued at $3.5 billion, down from $3.8 billion in January. Swiggy's valuation was also marginally reduced. Pine Labs, a payments company, recently received court approval to merge its entity in Singapore with its domestic one. Swiggy, on the other hand, has made a confidential filing for its $1.25 billion IPO.

Pine Labs Launches Soundbox Device For Merchants To Accept Mobile & Card Payments

Inc42 · 1y ago

Pine Labs Launches Soundbox Device For Merchants To Accept Mobile & Card Payments

Pine Labs has introduced the 'Pine Labs Mini', a device that enables merchants to accept mobile and card payments across various networks such as Visa, Mastercard, American Express, and RuPay. The device also includes a 'tap and pay' feature for card payments up to INR 5,000. Additionally, Pine Labs' subsidiary, Setu, recently launched UPISetu, a UPI-focused payments platform for businesses and developers.

Pine Lab officially acquires Qwikcilver for $110 million

Entrackr

Entrackr · 1y ago

Pine Lab officially acquires Qwikcilver for $110 million

Point of sale payment solution company Pine Labs has confirmed on Friday that it has completed the acquisition of Bengaluru based gift card solutions provider Qwikcilver. Last month, Pine Labs had signed a definitive agreement to acquire Qwikcilver for $110 million. With this acquisition, Qwikcilver and Pine Labs now have a combined gift solutions business comprising 250 brands and retailers and 1500 enterprise customers. (Source)

Pine Labs Partners Emirates NBD To Offer Solutions In UAE

Inc42 · 1y ago

Pine Labs Partners Emirates NBD To Offer Solutions In UAE

Pine Labs has partnered with UAE-based banking group Emirates NBD to provide digital payments solutions. Emirates NBD will utilize Pine Labs' Credit+ platform to expand its offerings and deploy merchant acquiring processing solutions for its corporate and institutional clients. The collaboration will initially be introduced in the UAE, with plans to expand it to Saudi Arabia and Egypt. This partnership will boost Pine Labs' revenue and extend its presence in the Middle East. In its latest financial year, Pine Labs experienced a significant increase in net loss but saw a 37% rise in operating revenues.

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