Pine Labs IPO trimmed as investors decide to sell less at price band

The Indian fintech firm Pine Labs has reduced the size of its upcoming initial public offering amid lower own-share sales, its CEO said in a recent interview. The company trimmed the stake offered by existing shareholders by 44 % and cut the fresh issue size by 20 %, setting a price band of ₹210–₹221 per share and targeting a valuation of roughly $2.9 billion at the top end. The public offer is scheduled from November 7 to November 11, joining a wave of tech-driven listings in India’s buoyant IPO market.