Pine Labs IPO Proceeds Monitoring Report for Q2 FY27

Pine Labs Ltd has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, concerning the utilization of its Initial Public Issue (IPO) proceeds. The report, issued by CARE Ratings Limited, confirms that the IPO proceeds amounting to Rs. 2,080.00 crore were utilized as disclosed in the Offer Document. During Q2FY27, funds were allocated to IT assets, cloud infrastructure, DCP procurement, and technology development. The company confirmed no deviation from the stated objects and that all utilization was in line with SEBI regulations. The report has been reviewed and considered by the Board of Directors and Audit Committee.