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India’s fintech major Pine Labs trims its IPO size ahead of November launch
Pine Labs cuts IPO size to US$2.
Indian payments‑technology firm Pine Labs has reduced the size of its upcoming initial public offering, cutting the secondary portion by 44% and the primary share by 20%.
The company set a price band of ₹210‑221 per share, valuing the business at around US$2.9 billion at the upper end. The adjustment reflects investor caution in the current public markets environment.
The IPO opens on November 7 and closes on November 11. Market participants see this as a sign of tempered enthusiasm despite India's robust start‑up ecosystem.