Actis sells additional stake in Pine Labs worth Rs 371 crore
25 Jun 2026, 12:00 PMThe latest sale comes just days after Actis offloaded another 0.86% stake in Pine Labs for about Rs 152 crore.
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Private equity firm Actis has further reduced its holding in Pine Labs, selling nearly a 2% stake worth Rs 371 crore through a bulk deal on the BSE, extending a wave of exits by pre-IPO investors after the expiry of the company's mandatory six-month post-listing lock-in period.
Actis sold around 2.39 crore shares at an average price of Rs 155.17 apiece. Axis Mutual Fund emerged as one of the key buyers, acquiring more than 96 lakh shares at Rs 154 each in a transaction valued at nearly Rs 148 crore. Details of the remaining buyers were not immediately available.
The latest sale comes just days after Actis offloaded another 0.86% stake in Pine Labs for about Rs 152 crore. Together, the two transactions have fetched the private equity investor more than Rs 522 crore.
Actis is not the only early backer cashing out. In recent weeks, Altimeter Capital sold Pine Labs shares worth Rs 211 crore through a block deal, while Madison India Capital also pared its holding after the lock-in restrictions ended.
The exits mirror a broader trend across India's new-age listed companies. As The Head and Tale reported earlier this month, venture capital and private equity investors have collectively monetised more than Rs 16,500 crore worth of shares in newly listed technology companies since the expiry of their mandatory post-listing lock-in periods since June last year, even as only six of 17 such companies were trading above their listing prices.
Actis first invested in Pine Labs in 2018, leading the company's $82 million funding round. As of March 2026, it held a 4.48% stake in the fintech company.
Pine Labs reported a strong March quarter, with revenue rising 17% year-on-year to Rs 700.5 crore, while posting a net profit of Rs 59.4 crore against a loss of Rs 28.9 crore a year earlier.
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