Cyril Amarchand Mangaldas (CAM) and Talwar Thakore & Associates (TT&A) advised on Pine Labs Limited’s INR 38,999.08 million initial public offering (IPO).

The allotment of equity shares in the IPO was completed on November 12, 2025, and the equity shares were listed on the stock exchanges on November 14, 2025.

CAM advised the Company, Pine Labs Limited on the initial public offering of its equity shares aggregating to INR 38,999.08 million.

CAM also advised the Company on the reverse merger of its Singapore holding company into the Company, including filings before the NCLT, Chandigarh Bench and the NCLAT at Delhi and other related regulatory aspects, and all aspects of the Offer.

The Transaction Team included Yash J. Ashar, Aashima Johur, Aniran Ghoshal, Akash Joshi, Rishi Nandkeolyar, Shreya Jain, Aakash Arun Rao, Arjun Badola and Subhajit Chowdhury. The General Corporate Team comprised Harish Sekar, Supriya Aakulu, Siddarth P. Chokkalingam and Mahek khandelwal. The NCLT Team included Shikha Tandon, Zaid Drabu, Sejal Sethi and Shubham Mittal. The Employment Team comprised Bharath Reddy, Simran Abhay Jain, Abhishek Gabriel and Akshaya K. The Team advising on regulatory aspects included Uttkarsh Bhatnagar, Shehryar Khanum and Jemima Chelliah. The Team advising on securities regulatory aspects comprised Rutu Gandhi and Pratiksha A.

Talwar Thakore & Associates (TT&A) advised all Individual Selling Shareholders on the IPO of Pine Labs Limited for an amount aggregating to ₹ 38,999.08 million. The TT&A Team comprised Partner Abhinav Kumar, Managing Associate Shubham Sancheti, and Paralegal Mihika Ambikar.