Pine Labs

Gurugram-based Pine Labs, which offers merchant payment and digital commerce solutions, has set a price band of Rs 210–221 per share for its IPO. The issue includes a fresh issue worth Rs 2,080 crore and an OFS of up to 82.34 million shares by existing investors.

Pine Labs will use the funds from the fresh issue to repay some borrowings, upgrade IT and cloud assets, expand its cloud infrastructure, and strengthen its global presence by investing in subsidiaries in Singapore, Malaysia, and the UAE.

With over 20 years in financial services, Kamath has previously served as Group CFO at Motilal Oswal before moving to Avendus.

After getting the go-ahead, the board approved renaming the company from “Pine Labs Private Limited” to “Pine Labs Limited,” as a step toward filing for an IPO in India.

Singapore court has approved Pine Labs, a fintech company, to move its headquarters to India. The company's Singapore and India businesses have merged, per a recent ruling from the court.

Merchant payments and lending platform Pine Labs has acquired fintech infrastructure startup Setu for around $70 million.