Pine Labs Targets $700M IPO in October

Indian digital payments provider Pine Labs Ltd. is reportedly planning an initial public offering (IPO) to raise up to $700 million in the latter half of October. Backed by Mastercard Inc. and PayPal Holdings Inc., the company has apparently commenced roadshows for this share sale. Sources familiar with the matter indicate that the IPO size has been reduced from an initial target of $1 billion. This adjustment stems from existing investors scaling back their offer-for-sale portions. The individuals speaking on condition of anonymity consider this information to be private.