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Exclusive: Pine Labs elevates CEO Amrish Rau to MD and Chairman

EntrackrEntrackr · 7m ago
Exclusive: Pine Labs elevates CEO Amrish Rau to MD and Chairman
Medial

Exclusive: Pine Labs elevates CEO Amrish Rau to MD and Chairman Pine Labs, a merchant commerce and payments platform, has promoted its Chief Executive Officer (CEO), Amrish Rau, from the role of Additional Director to Managing Director and Chairman. His elevation comes as the company prepares for its Initial Public Offering. Importantly, Rau continues to be the CEO of the Peak XV-backed firm. The board of Pine Labs has passed a resolution appointing Amrish Rau as the Managing Director and Chairman of the company for a five-year term, effective March 24, 2025, according to its filing with the Registrar of Companies (RoC). Rau joined Pine Labs as its CEO in March 2020. Prior to this, he was chief executive of Prosus-backed PayU India. Pine Labs recently received final approval from the National Company Law Tribunal (NCLT) to reverse flip its Singapore-based entity back to India. With this move, the fintech unicorn joined other Indian unicorn companies such as PhonePe, Groww, Zepto, and Dream11, which also relocated their headquarters back to India recently. The payments firm is eyeing to launch an IPO in the second half of 2025. As per media reports, the company is eyeing a $1 billion public issue and would comprise of issue of fresh equity shares and an offer for sale (OFS). 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. According to data intelligence startup 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. While Pine Labs is in the final stages of relocating its domicile from overseas back to India, a number of other startups—including Razorpay, Meesho, KreditBee, Udaan, Livspace, and several others—are also actively working on shifting their domiciles to India.

Pine Labs rewards CEO Amrish Rau with Rs 243 Cr ESOPs ahead of market debut

EntrackrEntrackr · 26d ago
Pine Labs rewards CEO Amrish Rau with Rs 243 Cr ESOPs ahead of market debut
Medial

url: https://entrackr.com/news/pine-labs-rewards-ceo-amrish-rau-with-rs-243-cr-esops-ahead-of-market-debut-10617990. Content: Pine Labs has filed its RHP for a Rs 3,900 crore IPO. In the past four months, it added ESOPs worth Rs 564.75 crore, including Rs 243 crore granted to CEO Amrish Rau. Merchant payments and lending platform Pine Labs has filed its RHP for a Rs 3,900 crore IPO. In the past four months, the company added ESOPs worth Rs 564.75 crore, with a large portion valued at Rs 243 crore granted to their Chief Executive Officer, Amrish Rau. According to its RHP, Pine Labs had an ESOP pool of 6.15 crore options valued at Rs 1,360 crore as of June 30, 2025. Over the following four months (July 1 to November 1), the company granted an additional 2.55 crore options, expanding the total pool to 8.7 crore. Of these, 2.75 crore options were exercised and converted into equity shares at exercise prices ranging from Rs 5.4 to Rs 156. Some options were forfeited or lapsed during the period, leaving Pine Labs with 5.89 crore as a total outstanding ESOP options valued at around Rs 1,300 crore ($148 million). Of the 2.55 crore options granted in the past four months, 1.1 crore were allotted to CEO Amrish Rau, with the remainder going to other key managerial personnel. According to the red herring prospectus, before June 2025, Rau had already had 2.31 crore options, bringing his total to 3.41 crore worth Rs 755.6 crore. Pine Labs’ Rs 3,900 crore IPO includes a fresh issue of equity shares worth Rs 2,080 crore and an offer for sale (OFS) of up to 8.23 crore shares valued at Rs 1,820 crore by existing shareholders. In the OFS, early backer Peak XV is set to receive around Rs 508.4 crore, earning a return of nearly 40x on its investment. Other shareholders, including Madison India, Sofina Ventures, Temasek, PayPal, Mastercard, Invesco, and Lone Cascade, will also participate in the share sale. Pine Labs recorded a 28.5% year-on-year rise in revenue to Rs 2,274 crore in FY25, up from Rs 1,769 crore in FY24, while its net loss narrowed by 57% to Rs 145 crore. Notably, the company turned profitable in the first quarter of FY26, reporting a net profit of Rs 4.7 crore on revenue of Rs 616 crore.

Emirates NBD ties up with Pine Labs to strengthen merchant acquiring solutions

EntrackrEntrackr · 1y ago
Emirates NBD ties up with Pine Labs to strengthen merchant acquiring solutions
Medial

Fintech firm Pine Labs has partnered with Emirates NBD, one of the leading banking groups in the Middle East, North Africa and Turkey (MENAT), to bring world class payment acquiring solution to the region. As part of its growth plans, Emirates NBD is expanding its offering by leveraging Pine Labs’ Credit+ platform to deliver merchant acquiring processing solutions for its corporate and institutional clients, initially in the UAE then across the Kingdom of Saudi Arabia and Egypt. The expanded suite of solutions will empower the bank’s clients to improve their digital payment system for both online and instore payments. “We have built many retail payment solutions in India and these are very relevant in global markets. RTP, Online, Contactless, Token management, NFC all services included here. Couldn’t be more excited with global Fintech,” said Amrish Rau, CEO of Pine Labs. According to Rau, Pine Labs’ acquiring processing platform Credit+ is built for scale and is already live in more than 20 countries. Emirates NBD has presence in 13 countries, serving over 9 million active customers. The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 858 branches and 4,450 ATMs.

Pine Labs files DRHP; Peak XV emerges as lead seller in OFS

EntrackrEntrackr · 5m ago
Pine Labs files DRHP; Peak XV emerges as lead seller in OFS
Medial

Merchant payments and lending platform Pine Labs has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The IPO includes a fresh issue of equity shares worth Rs 2,600 crore (approximately $305 million) and an offer for sale (OFS) of 14.78 crore equity shares, according to the DRHP. Peak XV is set to offload around 3.9 crore shares, accounting for approximately 26.3% of the total offer for sale (OFS). Acitis Pine Labs Investment and Temasek will sell 1.49 crore and 1.48 crore shares, respectively. Other participants in the OFS include PayPal, Mastercard Asia, Invesco, Madison India, Sofina, Lightspeed, BlackRock, and individuals such as Amrish Rau, Lokvir Kapoor, Kush Mehra, among others. According to the DRHP, Peak XV is the largest external shareholder with a 20.35% stake, followed by Temasek and PayPal holding 7.1% and 6%, respectively. Actis Pine Labs Investment owns 5.78%, while Mastercard and Alpha Wave hold 5.24% and 3.39%, respectively. Amrish Rau holds a 2.35% stake, followed by Lokvir Kapoor with 1.97%. Pine Labs plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by Axis Capital, Morgan Stanley, CITI, JP Morgan, and Jefferies, who are acting as the book-running lead managers. According to the DRHP, the net proceeds from the fresh issue will be utilized for repayment of borrowing, investment in subsidiaries, technology, research, and other general corporate purposes. In the first nine months of FY25, the company posted a 23% year-on-year increase in revenue, growing to Rs 1,208 crore from Rs 982 crore. It also reported a net profit of Rs 26.1 crore during the period.

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