Techcrunch Pine Labs IPO Valuation Cut Yet Stock Rises on Market Debut
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Pine Labs, a payment technology company backed by PayPal and Mastercard, launched its IPO at a valuation 40% lower than its last private round, raising $440 million. Despite this valuation cut, the stock opened at ₹242 and closed 14% higher at ₹252 on its first trading day, marking a successful debut in the Indian fintech market.
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