London-based investment firm Actis has reduced its stake in Pine Labs after selling shares worth Rs 151.6 crore through a bulk market transaction. The move comes amid a series of stake sales by investors following the expiry of the fintech firm’s post-IPO lock-in period.
Actis Pine Labs Investment Holdings sold 9.83 million shares at Rs 154.25 apiece, amounting to a deal worth Rs 151.6 crore. The transaction represents around 0.86% of Pine Labs’ equity and was executed at a 1.3% premium to the stock’s closing price of Rs 152.30. The buyer was not immediately disclosed.
Actis held a 4.58% stake in Pine Labs at the end of March 2026. Following the sale, its holding is estimated to have declined to about 3.72%, assuming no other changes in shareholding.
The sale follows a series of stake reductions by Pine Labs investors after the lock-in period ended in May. Madison India Opportunities IV, Altimeter Growth Partners, and Invesco Developing Markets Fund have collectively sold millions of shares over the past few weeks.
Actis first backed Pine Labs in 2018, leading an $82 million funding round alongside Altimeter Capital. It was also among the selling shareholders in the company’s IPO in November 2025.
Meanwhile, Pine Labs has reported a sharp improvement in earnings. The company posted a consolidated PAT of Rs 59.36 crore for the March 2026 quarter, compared with a loss of Rs 28.91 crore a year earlier, while revenue rose 17% to Rs 700.51 crore.
For FY26, Pine Labs reported its first full-year profit, with a PAT of Rs 112.51 crore against a loss of Rs 145.49 crore in FY25. Revenue from operations increased 19% to Rs 2,710.59 crore.
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