Pine Labs, an Indian fintech specialising in payment-solutions, has revised its initial public offering by reducing both the new-shares issuance and the exit allocation for existing investors. The IPO, now set to open on 7 November, follows a surge in listings but reflects cautious sentiment in the primary market. The pared-down size suggests a recalibration of valuation and risk appetite, even as the fintech seeks to capitalize on a recovering growth backdrop and rising payments adoption in India.