Pine Labs raises Rs 1,753 crore ahead of IPO; MIT retirement fund, SBI MF among anchor investors

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Merchant payments company Pine Labs has raised Rs 1,753 crore through its anchor placement round from 12 domestic mutual funds and several global investors. The company allotted 79 million shares at Rs 221 apiece.

Large domestic funds such as SBI Mutual Fund, HSBC, Mirae Asset, and Axis Mutual Fund accounted for 47% of the anchor allocation, contributing Rs 828 crore.

Among global investors, Singapore-based Integrated Core Strategies, Custody Bank of Japan, and the Massachusetts Institute of Technology Retirement Plan Trust (US) participated in the…



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Pine Labs raises Rs 1,753 crore ahead of IPO; MIT retirement fund, SBI MF among anchor investors



Merchant payments company Pine Labs has raised Rs 1,753 crore through its anchor placement round from 12 domestic mutual funds and several global investors. The company allotted 79 million shares at Rs 221 apiece.

Large domestic funds such as SBI Mutual Fund, HSBC, Mirae Asset, and Axis Mutual Fund accounted for 47% of the anchor allocation, contributing Rs 828 crore.

Among global investors, Singapore-based Integrated Core Strategies, Custody Bank of Japan, and the Massachusetts Institute of Technology Retirement Plan Trust (US) participated in the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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