<p>Fintech firm Pine Labs has filed for an initial public offering, draft papers showed on Thursday, with the company set to issue fresh shares worth 26 billion rupees ($304 million).</p><p>Pine Labs offers full stack payment solutions including point-of-sale machines to merchants for card payments and competes with Paytm and Walmart's PhonePe.</p>.NSE offers Rs 1,388 crore to settle with SEBI, move ahead with IPO. <p>Existing backers, which include Peak XV, Paypal and Mastercard, are selling up to 147.8 million shares in the IPO.</p><p>Proceeds from the fresh shares issued will be used for investing in overseas units to expand the firm's presence beyond India, develop technology and pare down borrowings, draft papers showed.</p><p>Morgan Stanley, Citi and Jefferies are among the book running lead managers of the offering. </p>
<p>Fintech firm Pine Labs has filed for an initial public offering, draft papers showed on Thursday, with the company set to issue fresh shares worth 26 billion rupees ($304 million).</p><p>Pine Labs offers full stack payment solutions including point-of-sale machines to merchants for card payments and competes with Paytm and Walmart's PhonePe.</p>.NSE offers Rs 1,388 crore to settle with SEBI, move ahead with IPO. <p>Existing backers, which include Peak XV, Paypal and Mastercard, are selling up to 147.8 million shares in the IPO.</p><p>Proceeds from the fresh shares issued will be used for investing in overseas units to expand the firm's presence beyond India, develop technology and pare down borrowings, draft papers showed.</p><p>Morgan Stanley, Citi and Jefferies are among the book running lead managers of the offering. </p>