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Ahead of the commencement of bidding for its public issue tomorrow, fintech major Pine Labs has raised INR 1,753.8 Cr from anchor investors
The company allotted 7.93 Cr equity shares to 71 anchor investors, including SBI, Nomura India, Massachusetts Institute of Technology, HSBC, ICICI Prudential, Franklin Templeton Investment Morgan Stanley, Tata Digital India Fund, among others.
The company allotted the shares at INR 221 each, which is the upper end of the IPO price band.
Of the 7.93 Cr shares, 3.75 Cr shares (or 47.26% of the total allocation) were allocated to 12 domestic mutual funds through a total of 30 schemes.
“The board of directors of the company… has finalised allocation of 7,93,58,986 equity shares, to anchor investors at anchor investor allocation price of INR 221 per equity share (including share premium of INR 220 per equity share)…,” Pine Labs said in a filing with the BSE.
The three-day IPO closes on November 11. The fintech major’s IPO will comprise a fresh issue of up to INR 2,080 Cr and an offer for sale (OFS) component of up to 8.23 Cr shares. At INR 221, the total size of the IPO would be about INR 3,900 Cr.
(This story will be updated soon)
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