Mumbai: IPO-bound Pine Labs has announced two key leadership appointments ahead of its planned public offering: Sameer Kamath is set to join as chief financial officer, while Shalini Saxena returns
as general counsel. The announcement follows closely on the heels of the company’s draft red herring prospectus (DRHP) filing with the Securities and Exchange Board of India (SEBI) on 27 June.

Kamath, currently group CFO at Avendus Capital, brings over two decades of financial leadership experience. He previously served as CFO at Motilal Oswal. He replaces Marc Mathenz, who stepped down in June shortly before the DRHP was filed.

Saxena re-joins Pine Labs after her tenure as legal head at CoinDCX. She had earlier served as general counsel at Pine Labs from 2019 to 2022. Her return signals renewed legal leadership focus as the company navigates regulatory and compliance processes tied to its public listing.

Pine Labs’ senior leadership team now includes:

Amrish Rau, chief executive officer

Kush Mehra, chief business officer

Sumit Chopra, chief operating officer

Navin Chandani, chief business officer – issuing business

The Gurugram-based fintech firm is looking to raise Rs 2,600 crore via a combination of fresh equity issue and an offer-for-sale (OFS) of up to 147.8 million shares. Pine Labs is reportedly seeking a valuation in the range of $4.5–5 billion. Key shareholders include Peak XV Partners, Mastercard, PayPal, and Actis.

The appointments place Pine Labs alongside a growing cohort of Indian startups accelerating towards public markets-a signal of rising maturity within the country’s fintech and technology sectors.

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