Indian fintech Pine Labs has reduced the size of its November IPO after existing investors opted to offer fewer shares, shrinking the offer by roughly 44% and trimming fresh issuance by about 20%. The revised prospectus shows the firm now expects to raise around ₹2,080 crore in the November 7–11 window while targeting a valuation near $2.9 billion. Management said the move limits dilution as the company strengthens profitability, and bankers expect healthy retail interest despite a competitive primary market.