As Pine Labs gears up for its highly anticipated IPO, it is also making major leadership changes to strengthen its core team.
One of the biggest moves is the This change in leadership comes at a crucial time, as the company filed its Draft Red Herring Prospectus (DRHP) on June 27.
Sameer Kamath is currently the Group CFO at Avendus Capital, a top investment bank headquartered in Mumbai.
He is set to leave this role and join Pine Labs shortly, according to two people familiar with the development.
Kamath brings over two decades of experience in financial services, with prior stints at major firms like Motilal Oswal.
Previously, he served as Group CFO at Motilal Oswal, where he helped steer financial operations during a period of strong growth.
This Pine Labs leadership shift is especially strategic, considering the company’s recent reverse-flip from Singapore to India.
That move required a CFO well-versed in Indian financial and regulatory environments, which Kamath certainly brings to the table.
The position had been vacant since Marc Mathenz, the Singapore-based CFO, resigned in June, just before the DRHP filing.
According to insiders, the company urgently needed an Indian CFO to align with its new corporate structure and local compliance needs.
This transition is expected to help Pine Labs build investor trust as it seeks public market participation in India.
Shalini Saxena Returns as General Counsel
In addition to the CFO change, Shalini Saxena is rejoining Pine Labs as General Counsel, another major part of this shift.
Saxena previously served as the company’s top legal officer between 2019 and 2022, playing a key role in regulatory strategy.
She had moved to CoinDCX, a crypto startup, as its legal head but is now set to return to her earlier role.
Her return brings continuity and legal expertise at a time when regulatory precision is more critical than ever.
IPO and Valuation Goals
These executive moves are unfolding just as Pine Labs prepares for a major public listing on Indian stock exchanges.
The DRHP filing revealed that the company is looking to raise ₹2,600 crore via fresh issue and an OFS of 147.8 million shares.
Pine Labs is aiming for a valuation between $4.5 billion and $5 billion, a figure that would put it among India’s top fintech players.
Major investors like Peak XV Partners, Mastercard, PayPal, and Actis are all backing the company in this next growth phase.
Alongside CEO Amrish Rau, Pine Labs’ core team includes executives like Kush Mehra, Sumit Chopra, and Navin Chandani.
Together, they are focusing on scaling operations, expanding product lines, and achieving IPO readiness across functions.
Why the Leadership Reshuffle Matters
Leadership changes during IPO preparations are common, but Pine Labs’ leadership shift appears highly calculated and strategic.
Adding seasoned professionals like Kamath and re-integrating trusted leaders like Saxena strengthens confidence in Pine Labs’ governance.
This approach not only helps manage complex compliance demands but also signals stability and growth potential to potential investors.
As India’s fintech landscape becomes more competitive, companies must showcase strong leadership and operational clarity to stay ahead.
With this latest move, Pine Labs is clearly working to deliver both—before hitting the public markets.