Saraswati Commercial invests in Pine Labs IPO as anchor investor

Saraswati Commercial (India) Ltd. has committed to investing in Pine Labs Limited's initial public offering, subscribing to 678,777 equity shares at a price of Rs. 221 per share. This totals an investment of Rs. 150,009,717 under the anchor investor category. The payment for this acquisition was made on November 6, 2025, with confirmation of allocation received on November 7, 2025.

Pine Labs Limited, an Indian merchant commerce platform, specializes in point-of-sale solutions, payment processing, and merchant financing. Its turnover for 2024-2025 was Rs. 2,327.09 crores. The acquisition represents 0.06% of Pine Labs' post-issue capital.

As an NBFC company engaged in investment, Saraswati Commercial's participation in Pine Labs' IPO aligns with its normal course of business as a financial investor. This investment exceeds the 2% net worth threshold specified by SEBI regulations for disclosure.