The number of shares that changed hands amount to 3.1% of the company’s outstanding equity.
Shares changed hands at an average price of ₹155 per share, taking the total transaction value to ₹550 crore.
Buyers and sellers in the transaction are not officially known.
On Tuesday, September 1, CNBC-TV18 reported that Pine Labs was set to witness a block worth ₹560.3 crore with Alpha Wave Ventures II LP and Apha Wave India I LP looking at selling their entire holdings in the fintech firm. This would represent around 3.2% of the company’s total equity at a floor price of ₹153.5 apiece.
At the end of the June quarter, public shareholders held 100% stake in the company, as per data available on the exchanges. Of this, Alpha Wave Ventures II LP held 3.11% stake, the data mentioned. In case Alpha Wave Ventures II LP is indeed the seller in the deal, it would amount to a clean-out trade by them.
Pine Labs reported a positive set of earnings in the first quarter.
Its net profit surged to ₹19.6 crore from ₹5 crore in the previous year. Its revenue increased 19.6% to ₹737 crore in the June quarter from ₹616 crore.The company’s earnings before interest tax depreciation and amortization (EBITDA) more than doubled as well to 96 crore from ₹44.6 crore in the corresponding quarter last year. Its margin expanded to 12.9% from 7.2% in the year-ago period.
Pine Labs said it is expecting higher margins in the coming quarters for the financial year 2027 as a whole.
Shares of Pine Labs ended the previous session 2.2% lower at ₹160.4 apiece. The stock has increased 5.4% in the past month but is down 31.8% this year, so far.
Also Read: These are the three Pharma stocks that should be on your radar today
