India’s fintech firm Pine Labs has amended its upcoming IPO, cutting the portion offered by existing investors by 44% and the fresh share issuance by 20%. Its updated prospectus shows existing investors will now sell 82.3 million shares (down from 147.8 million), and the company aims to raise about ₹2,080 crore (~US$236.7 million) in the IPO scheduled from 7-11 November 2025. The valuation target remains unspecified though earlier drafts valued the firm at around US$6 billion. The move reflects cautious investor sentiment in India’s bustling primary-market environment.