Pine laboratories in India up to $ 700 million in public subscription – Report

Pine Labs is looking to raise up to $ 700 million through an initial general offer (IPO) scheduled in the second half of October, Bloomberg said.

With the support of MasterCard and Paypal Holdings, the company started displaying roads for public subscription, according to information from the sources.

The goal of collecting donations decreased from the previous goal, which is one billion dollars, after some of the current shareholders decided to reduce the size of their share in the offer.

The public subscription includes the release of new shares worth 26 billion rupees ($ 295 million) and the sale of 147.8 million shares by the founder and investors, including Peak XV Partners, Pine Investment Holdings and Investco Investment boxes.

The informed Bloomberg has informed that the discussions related to the time and size of the show are still ongoing and may be vulnerable to change.

Pine laboratories Introduced the version of the release bulletin To the securities organizer in India in June and since then approval.

The company provides the payment stations and services associated with it inside India, as well as in international markets such as Singapore, Malaysia and the United Arab Emirates.

According to its documents referred to by Bloomberg, the company has informed a loss of 1.9 billion rupees, compared to revenues of 13.4 billion rupees for the fiscal year that concluded in March 2024.

In March this year, Pine Labs and Visa Firing VISA division solutions on a multi -loop Pine Labs platform, allowing traders in Southeast Asia to provide installments payments.

Cooperation enabled traders to provide installment options for both local and international transactions, eliminating previous requirements for various exporters and point of sale devices.

VIS was first appointed to the Merchant Pine Labs in Singapore, Malaysia and the Philippines.

“Pine laboratories in India reaches 700 million dollars in the public subscription – report” originally created and published by International electronic paymentsThe brand owned by Globaldata.

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