Pine Labs, an Indian fintech company providing payment solutions, has filed for an IPO to issue new shares worth 26 billion rupees. Existing investors like Peak XV, Paypal, and Mastercard are selling up to 147.8 million shares. The company plans to use the IPO proceeds to expand overseas, develop technology, and reduce debt, competing with firms like Paytm and PhonePe.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets