• Technology

    India’s markets regulator approves Pine Labs’ IPO – Reuters

    AnyFans Posted on

    By Reuters

    Copyright reuters

    India's markets regulator approves Pine Labs' IPO - Reuters

    Sept 15 (Reuters) – India’s markets regulator has approved the initial public offering of fintech firm Pine Labs (PINL.NS), opens new tab, a document on its website showed on Monday.

    The IPO could be worth $1 billion and the company, which competes with Paytm (PAYT.NS), opens new tab and Walmart’s (WMT.N), opens new tab PhonePe, is seeking a valuation of up to $6 billion, Reuters reported in June.

    Pine Labs offers full-stack payment solutions such as point-of-sale machines to merchants for card payments. It will use the IPO proceeds to invest in overseas units, develop technology and pare down debt.

    Advertisement · Scroll to continue

    The Securities and Exchange Board of India, on Monday, also approved the IPOs of two-wheeler manufacturer Hero Motors and Canara Robeco Asset Management.

    Reporting by Ananta Agarwal in Bengaluru; Editing by Sonia Cheema

    Purchase Licensing Rights

    You Might Also Like