Pine Labs files for $303.8m IPO to boost digital payments growth

By Vriti Gothi

Pine Labs, a digital payments platform, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).

Through this offering, they aims to raise up to $303.84 million via a fresh issue of shares, alongside an offer for sale of up to $1.7 million existing shares by current investors.

The proposed capital infusion reflects Pine Labs’ strategic commitment to expanding its technology capabilities, enhancing its product suite, and strengthening its position as a partner for merchants navigating the evolving digital payments ecosystem.

With an integrated platform that powers point-of-sale solutions and cloud-native payment orchestration to buy-now-pay-later, invoicing, gift cards and loyalty programmes, Pine Labs currently enables more than 900,000 merchants to drive seamless commerce experiences across India and key markets in Southeast and West Asia.

Proceeds from the fresh issue are expected to support the company’s focused investments in next-generation cloud infrastructure, advanced point-of-sale innovations and strategic market expansion in high-growth regions.

A substantial portion of the funds will also be deployed towards debt reduction, ensuring a stronger balance sheet that positions the company for sustainable, long-term growth. Pine Labs’ demonstrated operational resilience and its return to profitability in FY25 reinforce the strength of its business model and its ability to deliver consistent value to customers, merchants and institutional partners alike.

This filing comes on the heels of Pine Labs consolidating its Singapore business operations into its India entity, underlining its intent to anchor its future as a homegrown technology with a global outlook. The IPO will further enable Pine Labs to broaden access to its commerce-enabling solutions, support emerging business models, and respond to new digital consumption patterns with agility and innovation.

As it moves towards listing on Indian stock exchanges, Pine Labs remains focused on deepening its customer-centric approach, scaling responsibly, and upholding the highest standards of governance and regulatory compliance. This milestone is expected to catalyse the company’s next phase of digital transformation, reinforcing its vision to shape the future of merchant commerce in India and beyond.