Pine Labs gets warm market welcome on $440M India IPO despite a valuation trim

News Source : TechCrunch

News Summary

Pine Labs, backed by PayPal and Mastercard, won over public investors on Friday, finishing its first day of trading 14% higher even after lowering its valuation for its $440 million IPO.
This makes it the second-largest Indian fintech listing this year after online brokerage Groww’s nearly $750 million debut earlier this week.
Pine Labs has been steadily expanding beyond India and now operates in 20 markets, including Malaysia, Singapore, Australia, the UAE, the U.S., and some parts of Africa.

Payment technology company Pine Labs, backed by PayPal and Mastercard, won over public investors on Friday, finishing its first day of trade 14% higher even after lowering its valuation for its $440 [+3408 chars]

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