🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

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.

Pine Labs’ IPO values firm at $2.7 Bn; Peak XV eyes 40X return while Invesco stares at loss

EntrackrEntrackr · 1m ago
Pine Labs’ IPO values firm at $2.7 Bn; Peak XV eyes 40X return while Invesco stares at loss
Medial

News All Stories Pine Labs’ IPO values firm at $2.7 Bn; Peak XV eyes 40X return while Invesco stares at loss Pine Labs has set its IPO price band at Rs 210-221 per share, valuing the company at around $2.7 billion. The much-anticipated public issue offers stellar exits for early backers but leaves some late-stage investors with little to celebrate. Kunal Manchanada 03 Nov 2025 12:23 IST Follow UsNew UpdateFintech unicorn Pine Labs has set its IPO price band at Rs 210-221 per share, valuing the company at around Rs 23,573 crore ($2.7 billion). The much-anticipated public issue offers stellar exits for early backers but leaves some late-stage investors with little to celebrate.According to Entrackr’s analysis, Peak XV Partners (formerly Sequoia Capital India) will walk away with the biggest windfall, a 39.5X return on its investment. Madison India and Sofina Ventures also stand to book handsome gains of 5.6X and 4.7X, respectively.In contrast, investors who entered during later funding rounds will see far smaller gains or even losses. Temasek and PayPal are expected to make under 3X on their stakes, while Mastercard may clock a 1.7X return. Invesco, which came in at one of the highest valuations, is likely to incur a loss on its investment as the IPO pricing falls below its entry level. Lone Cascade may barely break even with a 1.2X multiple.During the OFS, Peak XV Partners will pocket around Rs 508.4 crore, followed by Actis (Rs 194.7 crore), Temasek (Rs 193.3 crore), PayPal (Rs 150 crore), and Mastercard (Rs 130.9 crore). Others, including Invesco (Rs 71 crore), Madison India (Rs 66.7 crore), Lone Cascade (Rs 53 crore), Sofina Ventures (Rs 44.2 crore), and founder Lokvir Kapoor (Rs 49.1 crore) will also partially cash out.The implied valuation of $2.7 billion marks a steep drop from the $6 billion target Pine Labs was reportedly chasing in 2022. The correction reflects a broader market reset in late-stage fintech valuations as investors prioritize profitability and stable cash flows over hyper-growth narratives.The company’s Rs 3,900 crore IPO comprises a fresh issue of Rs 2,080 crore and an offer for sale (OFS) of 8.23 crore shares by existing shareholders. Proceeds from the fresh issue will be used for debt repayment, technology upgrades, and international expansion.As per the RHP, Peak XV is the largest external shareholder with a 20.25% stake, followed by Temasek (7.06%) and PayPal (5.98%). Actis Pine Labs Investment holds 5.75%, while Mastercard and Alpha Wave own 5.22% and 3.37%, respectively.Pine Labs reported a 28.5% year-on-year growth in revenue to Rs 2,274 crore in FY25 from Rs 1,769 crore in FY24, while net losses declined by 57% to Rs 145 crore during the same period. Notably, in the first quarter of FY26, the company turned profitable, posting a net profit of Rs 4.7 crore on a revenue of Rs 616 crore.If successful, the listing could provide much-needed momentum to India’s fintech IPO pipeline, including players like Razorpay and Cashfree, though future offerings are likely to chase more realistic valuations aligned with today’s tempered investor sentiment.

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.

Download the medial app to read full posts, comements and news.