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Online payments company Pine Labs, which is preparing to list on Indian bourses, is targeting a pre-money valuation of around $2.6 billion in its upcoming initial public offering (IPO), almost half of its $5 billion private valuation from its last funding round in 2022.
The company had raised $50 million from London-based private equity firm Vitruvian Partners at a valuation slightly above $5 billion, as reported by ET in March 2022.
Pine Labs now aims to raise Rs 3,900 crore through the IPO, comprising a fresh issue of Rs 2,080 crore and an offer for…
