Pine Labs Moves Forward with IPO at Lower Valuation, Smaller Offering
Pine Labs is proceeding with its IPO, but has lowered its valuation to $2.9 billion, a 40% drop from its private valuation in 2022, with shares priced between ₹210 and ₹221. The company has reduced the size of its primary offering and the offer for sale, though investors like Peak XV Partners and Temasek Holdings will still be selling shares.
Key takeaways
- Pine Labs, an Indian merchant-commerce platform, is moving forward with its initial public offering (IPO), as reported by TechCrunch
- The company has revised its valuation to approximately $2
- 9 billion, a 40% decrease from its 2022 private valuation of over $5 billion
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