Pine Labs Appoints Sameer Kamath as CFO Ahead of ₹2,600 Cr IPO; DRHP Filed with SEBI
In a strategic leadership move ahead of its much-anticipated IPO, fintech unicorn Pine Labs is set to appoint Sameer Kamath as its new Chief Financial Officer (CFO). Sources close to the development confirmed to Inc42 that the company is currently working on a transition plan, and Kamath is expected to take charge soon.
The development comes just days after Pine Labs filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on June 26, 2025. The IPO aims to raise up to ₹2,600 crore via a fresh issue of shares, along with an offer for sale (OFS) of up to 14.78 crore shares by existing investors and stakeholders.
The OFS will include stake sales from key investors such as Mastercard, Peak XV Partners (formerly Sequoia Capital India), Macritchie Investments (Temasek), PayPal, and cofounder Lokvir Kapoor. This blend of primary and secondary share offerings indicates strong institutional support while also enabling early investors to partially exit.
Sameer Kamath, the incoming CFO, currently serves as the Group CFO at Avendus Capital, a leading Mumbai-based investment bank. Kamath brings with him over two decades of experience in the financial services industry, having previously held leadership roles at Motilal Oswal Financial Services and RPG Enterprises. His extensive experience in capital markets, mergers and acquisitions, and financial planning is expected to play a critical role in guiding Pine Labs through its public listing process.
Founded in 1998 and headquartered in Noida, Pine Labs has evolved from a point-of-sale (PoS) solutions provider into a full-stack merchant commerce platform. The company offers a wide range of services including payment solutions, buy now, pay later (BNPL) offerings, merchant lending, and eGift card issuance. Pine Labs is present across multiple Southeast Asian markets and serves over 250,000 merchants across India and beyond.
The upcoming IPO is expected to be one of the most significant fintech listings in India, amid a broader wave of tech startups tapping public markets. The funds raised through the public issue will be utilized for business expansion, product development, acquisitions, and general corporate purposes.
Pine Labs’ IPO journey has attracted attention not just for its scale, but also for the presence of heavyweight investors like Mastercard and Temasek. The appointment of a seasoned finance executive like Sameer Kamath further signals the company’s commitment to ensuring a smooth and well-managed transition to the public markets.
In conclusion, Pine Labs is entering a crucial phase of its growth journey with its DRHP filing and the appointment of a new CFO. With a robust business model, experienced leadership, and strong investor backing, the company is well-positioned to make a strong debut on the stock exchanges.
Keywords: Pine Labs IPO, Sameer Kamath CFO, Pine Labs DRHP, SEBI IPO filing, fintech IPO India, Pine Labs fundraising, Mastercard OFS, Peak XV Partners, Pine Labs news, Indian fintech startup.
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