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.
What happened
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
Key facts
- ₹356.86 Cr block deal
- 2.48 Cr shares sold at ₹144
- HSBC bought 61.73 Lakh shares for ₹88.89 Cr
- stock low ₹141.05, closed ₹142.8 (-3.71%)
- Q3 FY26 net profit ₹42.4 Cr vs loss ₹56.7 Cr YoY
- Q3 revenue ₹744.3 Cr (+24% YoY)
Why this matters
Pine Labs' post-lock-in flush at ₹141 floor resets the comp for fintech block deals and reprices any secondary or strategic stake conversations in the payments stack.
Also reported by
- Inc42 · Buzz — 5h after first sighting