Indian funds platform Pine Labs has scaled again the dimensions of its preliminary public providing, based on its newest submitting with India’s market regulator as reported by Reuters.
The provide will open on 7 November and shut on 11 November 2025.
Present shareholders will now promote 82.3 million shares as a substitute of the 147.8 million proposed in June, chopping the provide on the market by about 44 p.c.
The corporate can even subject fewer new shares, concentrating on 20.8 billion rupees, down roughly 20 p.c from 26 billion rupees earlier.
This interprets to about US$236.6 million versus US$295.8 million beforehand deliberate.
Buyers trimming their stakes embrace Peak XV Companions, PayPal and Mastercard, together with Actis and Singapore’s Temasek.
The submitting doesn’t state the explanation for lowering the difficulty measurement.
Pine Labs had earlier sought a valuation of as much as US$6 billion when it filed in June.
A separate Reuters report on the corporate’s worth band of 210 to 221 rupees per share indicated the revised providing now values Pine Labs at as much as 254 billion rupees (about US$2.9 billion).
Pine Labs supplies retailers with point-of-sale and digital cost options and competes with Paytm and Walmart-owned PhonePe.
Featured picture: Edited by Fintech Information Singapore, based mostly on picture by thanyakij-12 through Freepik
