Saraswati Commercial Acquires Pine Labs Shares Worth Rs. 15 Crore
Filing Summary
Saraswati Commercial India Ltd has completed the acquisition of 6,78,777 equity shares in Pine Labs Limited through the Anchor Category in its Initial Public Offering (IPO). The shares were acquired at a price of Rs. 221 each, totaling Rs. 15,00,09,717. The acquisition was finalized on November 12, 2025. Pine Labs Limited, an Indian merchant commerce platform, has a post-issue paid-up capital of Rs. 1,14,82,64,500. Saraswati Commercial, a non-banking financial company, made this investment as part of its regular business activities in the financial sector.
Saraswati Commercial India Ltd has acquired 6,78,777 equity shares in Pine Labs Limited as part of the company’s Initial Public Offering (IPO) under the Anchor Category. The shares were purchased at a price of Rs. 221 per share, resulting in a total investment of Rs. 15,00,09,717. The acquisition was completed on November 12, 2025, and was communicated to Saraswati Commercial on the same day.
The financial terms of the acquisition include a total cost of Rs. 15,00,09,717 for the shares, with each share priced at Rs. 221. The acquisition represents 0.06% of Pine Labs Limited’s post-issue capital. The transaction was conducted in cash, and no share swap or other forms of consideration were involved. The investment exceeds the threshold specified in Regulation 30(4)(i)(c)(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which is 2% of the net worth as per the last audited consolidated financial statements of Saraswati Commercial.
Pine Labs Limited operates as a merchant commerce platform in India, providing point-of-sale (POS) solutions, payment processing, and merchant financing services. The company empowers businesses of various sizes with digital payment technologies and value-added services. The IPO of Pine Labs had an issue size of Rs. 3,899.91 crore. Saraswati Commercial participated as an anchor investor in this IPO process.
The acquisition was completed on November 12, 2025, with no additional governmental or regulatory approvals required. The shares were allotted to Saraswati Commercial, and the completion of the acquisition was confirmed on the same date.
Saraswati Commercial India Ltd is a non-banking financial company (NBFC) engaged in the business of investing in shares and securities. The company operates within the financial sector, focusing on strategic investments as part of its regular business activities. This acquisition aligns with its business model of investing in promising companies within the financial market.