India, Nov. 7 -- Ahead of the commencement of bidding for its public issue today, fintech major Pine Labs has raised INR 1,753.8 Cr from anchor investors

The company allotted 7.93 Cr equity shares to 71 anchor investors, including SBI, Nomura India, Massachusetts Institute of Technology, HSBC, ICICI Prudential, Franklin Templeton Investment Morgan Stanley, Tata Digital India Fund, among others.

The company allotted the shares at INR 221 each, which is the upper end of the IPO price band.

Of the 7.93 Cr shares, 3.75 Cr shares (or 47.26% of the total allocation) were allocated to 12 domestic mutual funds through a total of 30 schemes.

"The board of directors of the company. has finalised allocation of 7,93,58,986 equity shares, to ancho...