Pine Labs, a digital payments provider backed by Mastercard and PayPal Holdings, is set to offer shares priced between 210 and 221 rupees per share. At the upper end of the price range, the company aims for a valuation of 253.77 billion rupees. Anchor investors can submit bids on November 6, while the subscription period for other investors will run from November 7 to 11, according to a separate statement released last Saturday. The offering includes a new share issue worth 20.8 billion rupees and the sale of approximately 82.35 million shares by the founders and existing investors. Pine Labs plans to raise up to 39 billion rupees ($439 million) through an initial public offering (IPO) in Mumbai.
