PayPal-Backed Pine Labs Plans Up to $700 Million IPO in October

Pine Labs, a digital payments company in India, is planning an initial public offering (IPO) that could raise up to $700 million. The company, which is backed by PayPal, is aiming to list its shares on the stock exchange in the second half of October. The IPO is expected to be one of the largest in the Indian market this year, reflecting the growing demand for digital payment solutions in the country. Pine Labs operates a platform that enables merchants to accept digital payments and provides other financial services. The company has seen significant growth in recent years, driven by the increasing adoption of digital payments in India. The IPO proceeds will be used to fund the company's expansion and further develop its technology and services. The details of the IPO, such as the exact pricing and share allocation, are still being finalized, but the successful listing of Pine Labs would be a significant milestone for the Indian fintech industry.