Pine Labs Files $304M IPO in India

  Published 1 year ago

Indian fintech Pine Labs files 26B-rupee IPO, with existing investors selling shares, aiming to fund overseas expansion, tech, and debt reduction.

  • Revenue rose to 13.41B rupees in FY24, but losses widened to 1.87B rupees.
  • India's IPO market slowed in 2024, with proceeds down 4.2% and issues down 29%.
  • Morgan Stanley, Citi, and Jefferies lead Pine Labs' IPO, alongside six other active offerings.

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