Pine Labs Share Price, IPO, Pre IPO, Unlisted Shares, and Upcoming IPO

Pine Labs has become one of the most anticipated names in India’s fintech sector. With its strong presence in merchant payments, prepaid cards, and financing solutions, Pine Labs’ upcoming IPO has attracted the attention of retail and institutional investors alike.

1. Pine Labs Share Price, IPO, Pre IPO, Unlisted Shares,
and Upcoming IPO
1. Introduction
2. About Pine Labs
3. History and Background of Pine Labs
4. Pine Labs Business Model
5. Pine Labs Financial Overview
6. What Are Pine Labs Unlisted Shares?
7. Pine Labs Share Price in Unlisted Market
8. How to Buy Pine Labs Unlisted Shares
9. Pine Labs Pre IPO Overview
10. Valuation and Funding Rounds
11. Major Investors in Pine Labs
12. Pine Labs IPO Date – What to Expect?
13. Expected IPO Valuation
14. Grey Market Premium (GMP) Expectations
15. Pine Labs IPO Allotment and Listing Plans
16. Comparison with Competitors (Paytm, Razorpay, BharatPe)
17. Pine Labs’ Growth Strategy and Future Plans
18. Should You Invest in Pine Labs Pre IPO?
19. Expert Opinions and Market Sentiment
20. Conclusion
21. FAQs

Introduction
Pine Labs has become one of the most anticipated names in India’s fintech sector.
With its strong presence in merchant payments, prepaid cards, and financing solutions,

2. Pine Labs’ upcoming IPO has attracted the attention of retail and institutional investors
alike.
This article breaks down everything about Pine Labs share price, unlisted shares, pre-
IPO insights, and its upcoming IPO details, helping you make an informed decision
before investing.

About Pine Labs
Founded in 1998, Pine Labs began as a loyalty card provider before transforming into a
powerful fintech platform serving over 500,000 merchants across India, Southeast
Asia, and the Middle East.
The company’s tech-driven approach has made it one of the largest merchant payment
aggregators in India, competing with giants like Paytm, Razorpay, and PhonePe.

History and Background of Pine Labs
Originally established to provide card-based payment solutions, Pine Labs quickly
evolved by leveraging the growth of digital payments in India. With the rise of UPI and
credit-based transactions, Pine Labs positioned itself as a one-stop fintech provider
offering:
• Point-of-Sale (POS) terminals
• Consumer credit and EMI options
• Loyalty and rewards programs
• Online payment gateways
Today, Pine Labs operates in more than 20 countries, serving industries like retail,
hospitality, and fuel.

Pine Labs Business Model
Pine Labs earns its revenue through transaction fees, software services, and
partnerships with banks and NBFCs. Its diversified model includes:
• Payment Solutions: POS terminals and online gateways.
• Merchant Lending: Instant credit facilities for retailers.

3. • Gift Cards & Prepaid Solutions: Through its subsidiary Qwikcilver, Pine Labs
manages loyalty and gift card programs for brands like Amazon, Flipkart, and
Starbucks.
This hybrid model allows Pine Labs to maintain steady growth even during economic
downturns.

Pine Labs Financial Overview
As of FY2024, Pine Labs reported revenues exceeding ₹1,200 crore, reflecting a steady
year-on-year growth. Despite heavy competition, it continues to maintain profitability
in core operations due to:
• Strong merchant base
• Strategic partnerships with major banks
• Diversified fintech services
With investments from global giants like Temasek and Sequoia Capital, Pine Labs’
valuation has crossed $5 billion in the private market.

What Are Pine Labs Unlisted Shares?
Before an IPO, companies like Pine Labs trade their shares in the unlisted market,
where private investors, employees, and early backers can buy or sell equity.
Unlisted shares are traded over-the-counter (OTC) through trusted brokers, making
them a preferred choice for early investors seeking high returns once the IPO launches.

Pine Labs Share Price in Unlisted Market
As of October 2025, Pine Labs unlisted share price ranges between ₹1,100 to ₹1,300
per share, depending on market demand.
This price reflects investor confidence in Pine Labs’ upcoming IPO and strong financial
fundamentals. Over the past 12 months, the unlisted share price has risen by nearly
25%, signaling growing pre-IPO enthusiasm.

How to Buy Pine Labs Unlisted Shares
Investors can purchase Pine Labs unlisted shares through trusted pre-IPO platforms
and brokers.

4. Steps to Buy Pine Labs Unlisted Shares:
1. Contact a reputed unlisted share broker.
2. Verify the company’s valuation and documentation.
3. Complete KYC and payment through a demat account.
4. Receive shares in your demat within 2–3 working days.
Platforms like TradeUnlisted, UnlistedZone, and Planify often list Pine Labs pre-IPO
shares for retail investors.

Pine Labs Pre IPO Overview
The Pine Labs pre-IPO phase allows private investors to invest before the company
officially goes public.
In early 2025, Pine Labs raised an additional $50 million from new investors as part of
its final pre-IPO round, boosting its valuation and reinforcing confidence in its upcoming
public debut.

Valuation and Funding Rounds
Pine Labs has conducted multiple funding rounds over the years.
Key Rounds Include:
• 2018: $125 million from Temasek
• 2020: $285 million from Mastercard
• 2022: $600 million from Sequoia and Fidelity
• 2024: $50 million pre-IPO bridge round
Its current valuation stands around $5 billion, positioning it as one of the top-valued
fintech unicorns in India.

Major Investors in Pine Labs
Pine Labs’ investor list includes some of the world’s top venture and sovereign funds:
• Temasek Holdings
• Sequoia Capital India

5. • Mastercard
• PayPal Ventures
• Fidelity Management
This diverse investor base has strengthened the company’s credibility ahead of its IPO.

Pine Labs IPO Date – What to Expect?
The Pine Labs IPO is expected to launch in 2025–26, according to market sources.
While the exact date isn’t confirmed yet, the company is reportedly preparing regulatory
filings with SEBI and planning a dual listing in India and the U.S.
This dual-listing approach will allow Pine Labs to tap both retail and institutional
investors, enhancing its global brand visibility.

Expected IPO Valuation
Analysts estimate the Pine Labs IPO valuation could be between $6 billion to $7
billion, depending on market conditions at the time of listing.
If priced competitively, the IPO could be one of India’s biggest fintech listings,
following the footsteps of Paytm and Policybazaar.

Grey Market Premium (GMP) Expectations
The Grey Market Premium (GMP) for Pine Labs IPO is expected to be high due to the
company’s strong fundamentals, brand value, and profitable track record.
While the GMP data will be available closer to listing, early estimates suggest a
premium of 20–30% over the issue price.

Pine Labs IPO Allotment and Listing Plans
The IPO is expected to include both fresh shares and offer-for-sale (OFS) by existing
shareholders. Retail investors will likely get 10–15% quota of the total issue size.

6. Comparison with Competitors
Company Valuation Business Model Profitability
Pine Labs $5–7 billion Merchant payments, POS, lending Profitable core ops
Paytm $3.5 billion Consumer payments, wallet Loss-making
Razorpay $6 billion Online payment gateway Profitable
BharatPe $3 billion Merchant lending Loss-making
Pine Labs stands out due to its hybrid fintech model combining merchant payments,
credit, and loyalty solutions.

Pine Labs’ Growth Strategy and Future Plans
Looking ahead, Pine Labs plans to:
• Expand into new Southeast Asian markets.
• Strengthen its digital credit ecosystem.
• Launch AI-driven merchant insights.
• Explore blockchain-based payment infrastructure.
These innovations could significantly boost the company’s valuation post-IPO.

Should You Invest in Pine Labs Pre IPO?
Investing in Pine Labs pre-IPO shares can be rewarding but involves moderate risk.
Pros:
Strong financials and brand credibility
Diversified business model
Global investor trust
Cons:
Valuation risk before IPO
Liquidity issues in unlisted market
If you believe in India’s fintech growth story, Pine Labs offers a strong long-term bet
before its public listing.

7. Expert Opinions and Market Sentiment
Market experts believe Pine Labs’ IPO will perform well due to its consistent
profitability, merchant ecosystem, and global partnerships.
Analyst reports suggest it could become India’s next fintech leader, provided it
maintains growth and regulatory compliance in multiple geographies.

Conclusion
The upcoming Pine Labs IPO represents more than just another fintech listing — it’s a
milestone for India’s digital economy.
From unlisted share price growth to pre-IPO funding rounds, Pine Labs has shown
remarkable stability and innovation. Whether you’re a retail investor or a venture backer,
Pine Labs deserves your attention in 2025.

FAQs
1. What is Pine Labs' current unlisted share price?
As of October 2025, Pine Labs unlisted shares trade between ₹1,100–₹1,300.
2. When will the Pine Labs IPO launch?
The IPO is expected around mid-to-late 2025, subject to SEBI approval.
3. What is Pine Labs' latest valuation?
The company is currently valued around $5 billion in private markets.
4. Who are the major investors in Pine Labs?
Temasek, Sequoia Capital, Mastercard, and PayPal Ventures.
5. Is Pine Labs profitable?
Yes, its core merchant payment business is profitable, unlike many fintech peers.