Pine Labs, a payment technology firm, saw its stock rise 14% on its first trading day after a $440 million IPO, despite reducing its valuation from over $5 billion in 2022. The company, which now operates in 20 markets, posted its first profit recently and aims to expand its presence in India and internationally.

Tiger Global and Microsoft are selling their entire stakes in PhonePe, an Indian payments startup backed by Walmart, as part of its IPO. The company aims for a market cap of around $15 billion and is looking to raise up to $1.5 billion from the share sale. PhonePe leads India's digital payments market, surpassing competitors like Google Pay.