Madison India nearly exits Pine Labs in ₹357 Cr block deal as mutual funds absorb supply

Madison India Capital sold 2.48 Cr Pine Labs shares at ₹144 apiece, raising ₹357 Cr in a near-full exit post lock-in expiry. HSBC MF picked up 61.73 Lakh shares (₹88.89 Cr); Franklin, ICICI Pru and Tata MF also absorbed stock. Shares hit a post-IPO low of ₹141.05, closing -3.71% at ₹142.8 despite Q3 swing to ₹42.4 Cr profit on 24% YoY revenue growth.

— Filed Fri, 22 May, 2026, 22:29 IST · Source Inc42 · Buzz · Updated

Madison India Capital sold 2.48 Cr Pine Labs shares for ₹357 Cr in a block deal, nearly fully exiting the payments firm. Mutual funds absorbed the supply as the stock hit a post-IPO low following lock-in expiry.

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