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Pine labs targets $2.9b valuation in upcoming ipo pine labs, an indian fintech company offering payment solutions, is targeting a valuation of up to us$2.9 billion in its upcoming ipo. Indian retailer firstcry is seeking to raise up to $501 million in an initial public offering (ipo), valuing the company as much as $2.9 billion, according to a term sheet seen by reuters on thursday. Ceo amrish rau said the valuation cut is because the company believes in 'taking the community along' and pricing the ipo in a way that it makes it easier for investors to participate.

Pine labs has reduced its ipo size by over 40%, with the offering set to open on november 7 and a lower valuation of about us$2.9 billion.

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