Pine Labs has appointed Sameer Kamath, former CFO at Avendus Capital, as its Chief Financial Officer ahead of its upcoming IPO.

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Kamath will lead the company’s global finance strategy, accounting operations, and investor relations functions.

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He brings over 17 years of financial leadership experience, including roles at Avendus Capital and Motilal Oswal Financial Services.

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Kamath’s appointment follows a wave of leadership changes, including Setu’s new CTO, ex-Razorpay executive Prashanth Nimmagada.

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In June, Pine Labs filed draft papers with SEBI for a public issue worth INR 2,600 Cr, marking a major step toward listing.

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A pre-IPO round of INR 520 Cr is also under consideration as the company awaits SEBI approval.

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Pine Labs plans to allocate INR 870 Cr from IPO proceeds to reduce debt and INR 760 Cr to boost its IT infrastructure and digital assets.

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The fintech firm, valued at over $5 billion, reported a net profit of INR 26.1 Cr in 9M FY25, recovering from a major loss the year before.

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