Madison India exits Pine Labs in ₹357 Cr block deal as stock hits post-IPO low
Madison India Capital sold nearly its entire Pine Labs stake at ₹144/share via a ₹356.86 Cr block deal, with HSBC MF, Franklin Templeton, ICICI Pru and Tata MF among buyers. The payments firm's stock closed at ₹142.8, a post-IPO low, despite Q3 FY26 revenue of ₹744.3 Cr (+24% YoY).
What happened
Madison India Capital exited nearly its entire Pine Labs stake via a ₹357 Cr block deal at ₹144/share, picked up by HSBC MF, Franklin Templeton, ICICI Pru and
Key facts
- ₹356.86 Cr
- 2.48 Cr shares
- ₹144/share
- ₹142.8 close
- Q3 FY26 net profit ₹42.4 Cr
- revenue ₹744.3 Cr (+24% YoY)
Why this matters
The block deal clears a major PE overhang on Pine Labs' cap table, potentially stabilizing the float for any future strategic action in the Indian payments consolidation cycle.