Pine Labs IPO: Fintech Unicorn Pine Labs has submitted a draft crimson herring prospectus (DRHP) close to the Capital Market Regulator SEBI for its public problem. This data was given by sources associated to the case to Moneycontrol. The corporate is making an attempt to boost Rs 2,600 crore (about 30.4 million {dollars}) by releasing new shares in its IPO. On the identical time, as much as 14.78 crore shares can even be provided on the market from present traders. Buyers of Pine Labs additionally embrace paypal, mastercard, peak XV companions and macritchie investments. Firm may think about elevating as much as Rs 520 crore by means of pre-placement pre-placement earlier than IPO. If the pre-IPO placement is profitable, then the scale of the brand new shares within the IPO will lower. Axis Capital, Morgan Stanley, Metropolis, JP Morgan and Jefferies E book for the IPO of Pine Labs are the lead managers. In response to DRHP, Pine Labs will use the cash, Pine Labs will repay its debt by releasing new shares in its IPO and repaying its debt and subsidiaries- Qwikcilver Solucentess Coverage and Pine labs will probably be for funding in UAE. Pine Labs has been centered on offline funds primarily by means of POS (Level of Sale) terminal. However now it’s also increasing in different areas, equivalent to on-line funds (feed), by now pay letter companies, bill administration, gifting options and many others. Throughout the funding spherical in 2022, the valuation of Pine Labs was estimated at $ 5 billion. The corporate obtained approval to shift its Fundamental India from Singapore in April this yr. Disclaimer: Right here data is being supplied right here just for data. It’s vital to say right here that the funding market available in the market is topic to dangers. At all times seek the advice of consultants earlier than investing cash as an investor. There’s by no means recommendation to anybody to speculate cash on behalf of Moneycontrol.
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