Pine Labs scaled back the size of its planned initial public offering on 1 November 2025 after existing shareholders chose to sell fewer shares than initially indicated. The fintech firm revised the offer size lower and adjusted the fresh-issue component, seeking to reduce dilution while pursuing a November listing. Company executives said the move aligns the float with current investor appetite and helps ensure a smoother listing process. Bookrunners will watch anchor subscriptions and retail demand to gauge listing strength in a competitive IPO calendar.