New Delhi, Nov. 3 -- Pine Labs' early investors are expected to make windfall gains from the fintech unicorn's upcoming initial public offering (IPO) that is set to open for bidding later this week, according to Mint's analysis of the Red Herring Prospectus.

Pine Labs, which is set for subscription between 7 and 11 November, has set a price band of Rs.210-221. The Gurugram-based company is set to launch a Rs.3,809- Rs.3,990 crore issue and the company has sought a post-issue valuation of Rs.24,217 crore ($2.7 billion) to Rs.25,377 crore ($2.8 billion). Other marquee new age startups including Groww and Lenskart are also eyeing the public market in this window.

The company has appointed Axis Capital, Morgan Stanley, Citi, JP Morgan, and ...