Fintech firm Pine Labs, backed by Peak XV Partners and Mastercard Inc, is reportedly eyeing an initial public offering (IPO) of $1 billion in India.
This comes as the company has received approval from a Singapore court to relocate its base to India, merging its Singapore and Indian entities.
The company may seek a valuation of more than $6 billion in an IPO, according to industry sources. It may issue both new and secondary shares, and could also opt to do a pre-IPO fundraising round ahead of any listing. This development was first reported by Bloomberg. Pine Labs didn't comment about this development.
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