India, Sept. 15 -- Fintech major Pine Labs has received the approval from the Securities and Exchange Board of India (SEBI) for its public listing.

The markets regulator issued observations to the fintech company on Thursday (September 11), as per the updates on SEBI website.

In SEBI's parlance, issuance of observation is a go ahead to proceed with the public issue.

This comes over two months after Pine Labs filed its DRHP for a public issue comprising a fresh issue of shares worth up to INR 2,600 Cr ($304 Mn) and an offer for sale (OFS) of up to 14.78 Cr shares.

Mastercard, Peak XV Partners, Macritchie Investments, Paypal, Pine Labs cofounder Lokvir Kapoor, among others, plan to offload shares via the OFS.

(The story will be updated...