Fintech Firm Pine Labs Cuts IPO Size Amid Dilution Concerns

Pine Labs, an Indian fintech platform valued previously at ~$5 billion, has trimmed the size of its upcoming IPO. The fresh share issuance has been reduced by ~20% while the stake sale by existing investors such as PayPal, Temasek and Mastercard has been cut ~44%, with 82.3 million shares now planned versus 147.8 million initially. At the revised price band of ₹210–₹221 per share, the firm is now targeting a valuation of ~$2.9 billion. The IPO is scheduled for 7–11 November 2025, indicating caution amid broader tech‐listing pressure.