Pine Labs has raised ₹1,754 crore from anchor investors ahead of its ₹3,900 crore IPO, drawing strong participation from major domestic and global funds. The fintech plans to use the proceeds for debt repayment, tech upgrades, and international expansion.
In advance of its forthcoming IPO, Pine Labs Ltd. has collected ₹1,754 crore from its anchor-investor distribution. At ₹221 each, 7.93 crore shares were designated to anchor investors—the top end of the company’s pricing band.
Participating came from 70+ institutional players, including well-known local funds like SBI Mutual Fund and Aditya Birla Sun Life Mutual Fund
With around ₹3,900 crore being the IPO size, fresh issuance is expected to generate ₹2,080 crore, and approximately 8.23 crore shares (about ₹1,819.9 crore at the upper band) will be made available through an Offer for Sale (OFS) by current shareholders.
The business plans to utilize the increased money to retire debt, improve IT and cloud infrastructure, improve its tech stack, buy digital checkout equipment, and grow its international operations (in Singapore, Malaysia, UAE) through its subsidiaries. The band for the share price is ₹210–₹221 each. The company is aiming for a post-IPO valuation of above ₹25,300 crore at the upper end of that range.
Given that it is locked in even before the public portion opens (scheduled November 7–11), the anchor round provided a reliable signal. Looking to profit from its growing presence in digital payments, merchant servicing, gift card issuance, and Buy Now, Pay Later (BNPL) offerings, Pine Labs
READ ABOUT: Lenskart IPO Date Confirmed: Public Issue Opens October 31 After RHP Filing
The anchor fundraising shows institutional investors believe in the company’s business model and expansion trajectory. Although the anchor subscription is solid, the overall IPO will rely on the reactions of the public investors and the retail component. Operating in a competitive pay-tech scene with changing regulations, Pine Labs will need to deliver on growth, profits, and global expansion to support the higher valuation.
