Pine Labs cuts IPO size in RHP; issue opens on Nov 7

Merchant payments and lending platform Pine Labs has filed its Red Herring Prospectus (RHP) with market regulator SEBI for its proposed Initial Public Offering (IPO).

The offer comprises a fresh issue of equity shares worth Rs 2,080 crore and an offer for sale (OFS) of up to 8.23 crore shares by existing shareholders. Notable investors participating in the OFS include Peak XV Partners, Temasek, PayPal, Mastercard, Invesco, Madison India, and Sofina Ventures.

Interestingly, the company has reduced both the fresh issue and OFS component in its RHP…