Noida-based fintech main Pine Labs has raised Rs 1,754 crore from anchor buyers forward of its preliminary public providing (IPO), which opened for subscription on November 7.

The corporate allotted 7.93 crore fairness shares at Rs 221 per share, the higher finish of its price band of Rs 210-221, in line with a submitting with the Nationwide Inventory Alternate (NSE).

The anchor e book drew participation from greater than 70 institutional buyers, together with home mutual funds and international establishments resembling Morgan Stanley, Nomura, Amundi Funds, and The MIT Retirement Fund.

Main home buyers, together with SBI Mutual Fund, ICICI Prudential Life Insurance coverage Firm Ltd, Axis Mutual Fund, Aditya Birla Solar Life, additionally took half. Practically 47% of the whole anchor allocation went to 12 home mutual funds by means of 30 schemes.

The IPO, amounting to Rs 3,899.91 crore, features a contemporary problem of Rs 2,080 crore and a proposal on the market (OFS) of Rs 1,819.91 crore by current shareholders. Funds from the contemporary problem might be used for debt reimbursement, know-how upgrades, and worldwide growth.

Amongst current shareholders, Peak XV Companions (previously Sequoia Capital India) stands to realize probably the most from the OFS, reserving an estimated 39.5X return on its funding. Madison India and Sofina Ventures are additionally anticipated to grasp 5.6X and 4.7X returns, respectively.

In line with the crimson herring prospectus (RHP), Pine Labs recorded a 28.5% year-on-year rise in income to Rs 2,274 crore in FY25, up from Rs 1,769 crore in FY24, whereas its internet losses narrowed by 57% to Rs 145 crore. Within the first quarter of FY26, the company turned profitable, posting a internet revenue of Rs 4.7 crore on income of Rs 616 crore.

The IPO will stay open for subscription till November 11, with share allotment anticipated on November 12 and itemizing on the BSE and NSE on November 14.

Retail buyers can bid for at least 67 shares per lot, requiring an funding of Rs 14,807 on the higher worth band, whereas the utmost funding for retail individuals is capped at Rs 1,92,491 for 13 heaps.