India, April 24 -- Fintech major Pine Labs has elevated its chief executive officer Amrish Rau to the dual role of managing director and chairman amid plans for an initial public offering worth $1 Bn.

In a regulatory filing, Pine Labs said that its board has accorded to designate and appoint Bairavarasu Amrish Rau, additional director of the company, as MD and chairman for the period of 5 years, starting March 24 2025, to March 23 2030.

Rau was the chief executive of PayU India before joining Pine Labs as CEO in March 2020.

Recently, Pine Labs secured final approval from the National Company Law Tribunal (NCLT) to merge its Indian and Singapore entities.

For the same, it has picked five bankers, including Axis Capital, Morgan Stanley,...