03:50 PM EDT, 09/18/2025 (MT Newswires) -- Pine Labs, a digital payments provider in India backed by PayPal Holdings ( PYPL ) and Mastercard ( MA ) , plans to raise as much as $700 million in an initial public offering in October's H2, Bloomberg reported Thursday, citing people familiar with the matter.

The IPO was reduced from a $1 billion target after existing investors scaled back their offer-for-sale portion, the report said.

The offering will include a fresh issue of shares worth 26 billion rupees ($295 million) and a sale of 147.8 million shares by the founder and investors, the report said.

Pine Labs, PayPal ( PYPL ), and Mastercard ( MA ) did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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