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Pine Labs IPO Approved, Could Raise up to US$1 Billion
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Pine Labs gets SEBI approval for large IPO to fund growth and debt reduction.
India’s markets regulator SEBI has approved the IPO of fintech firm Pine Labs. The IPO may raise up to US$1 billion and target a valuation of about US$6 billion. Pine Labs provides payment solutions including point-of-sale machines and will use raised funds to expand overseas operations, improve its technology, and reduce debt.