India's markets regulator Sebi has approved the initial public offering of fintech firm Pine Labs, focused on expanding overseas operations and accelerating development.
Following this announcement, the proceeds from the IPO are set to be channeled into the process of expanding overseas operations, as well as accelerating technology development and reducing debt.
According to a disclosure on the Securities and Exchange Board of India’s (Sebi) website, Pine Labs has received the green light to proceed with a share sale that could raise up to USD 1 billion, Reuters reported. In addition, the company is seeking a valuation of as much as USD 6 billion, as it will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market and prioritise the process of remaining compliant with the regulatory requirements and laws of the industry as well.
More information on Pine Labs’ USD 1 billion IPO initiative
The regulator’s approvals come amid a resurgence process in India’s IPO market that has seen several high-profile companies queuing up to tap buoyant investor appetite. At the same time, analysts expect fintech and financial services institutions to focus on the process of attracting strong demand, supported by robust domestic consumption and the ongoing shift towards digital payments.
The initiative was announced back in March 2025, when Pine Labs targeted an India IPO for the second half of 2025. The fintech added that this strategy represented a mix of raising new capital and some existing investors selling their stakes, declining to comment on the IPO size. Furthermore, Pine Labs mentioned that even if the IPO timing changes, it is still ready for the public market.
Later in July 2025, the company sought to issue fresh shares worth USD 304 million, while existing investors such as Peak XV, PayPal, and Mastercard sold up to 147.8 million shares, according to draft papers filed with the market regulator. The IPO offering was expected to be worth USD 1 billion, and the company sought a valuation of USD 6 billion.
