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Pine Labs CEO Amrish Rau may net ₹1,000 crore as firm files for IPO
As fintech major Pine Labs gears up for its initial public offering (IPO), its draft red herring prospectus (DRHP) highlights top executives' compensation and stock option windfalls, including that of chief executive officer (CEO) Amrish Rau.
Rau's net worth is estimated to be between ₹850 crore and ₹1,000 crore following the IPO. The company was last valued at $5 billion during its 2022 fundraising round.
He holds a 2.35 per cent stake in the company, translating into 17.76 million shares, and holds 24.96 million shares on a fully diluted basis.
According to the DRHP, Rau is offloading up to 3.2 million equity shares in the offer for sale (OFS).
Previous grants have enabled Rau to vest 7.19 million employee stock options (ESOPs). He also received 23.17 million shares—subject to shareholders' approval—between January and June this year.
Rau's annual pay stands at ₹5.8 crore, including a basic salary of ₹3.8 crore and an annual incentive of ₹1.9 crore, among other components.
During the financial year 2025 (FY25), he received ₹3.76 crore as CEO of Pine Labs Singapore, including a performance-linked bonus accrued for FY24 and paid in FY25.
Meanwhile, Kush Mehra, executive director, president and chief business officer – digital infrastructure and transaction platform at Pine Labs, earns a gross annual salary of ₹3 crore.
Mehra holds 4.06 million shares and is expected to offload 0.44 million equity shares in the OFS.
Investors such as Peak XV Partners, Actis, Macritchie, PayPal, Mastercard, AIM Investment Funds and Madison India Opportunities IV, among others, are also expected to partially exit through the OFS.
Peak XV will pare down its stake by selling the largest chunk—39 million shares—in the OFS. PayPal and Mastercard will offload 11.50 million and 10.04 million shares, respectively.
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