Pine Labs Limited

Pine Labs Limited is an Indian merchant commerce and financial technology platform. Its business brings together point of sale devices, digital payment processing, card issuing and prepaid solutions, and merchant financing, letting shops, consumer brands and financial institutions accept payments and run loyalty and affordability programs across both physical stores and online channels. The company was incorporated in 1998 and has grown into one of the larger merchant technology providers in the country. As of 30 June 2025 it reported serving close to 988,304 merchants, more than 700 consumer brands and enterprises, and over 170 financial institutions, and it counts large platforms and banks among its customers. Alongside its Indian operations it has extended parts of its issuing and payments business into markets in Southeast Asia. Pine Labs operates a platform model in which payment acceptance, issuing and financing products reinforce one another and deepen its relationships with merchants and brands. Revenue has grown across recent financial years, though the company reported net losses over that period before turning a small profit in the quarter ended June 2025. Its growth is tied to the wider shift toward digital payments and to demand for integrated commerce and financing tools from merchants and enterprises.

Pine Labs allotted 79,358,986 equity shares to anchor investors at ₹221 per share, the top of the price band, raising close to ₹1,754 crore ahead of the public issue.