Altimeter Capital sells Pine Labs shares worth Rs 211 crore via block deal
29 May 2026, 03:04 PMThe buyers in the transaction included SBI Mutual Fund and Nippon India Mutual Fund.
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US-based venture capital firm Altimeter Capital has partially exited fintech major Pine Labs by selling 1.56 crore shares through a block deal valued at Rs 211.08 crore.
According to BSE data, Altimeter Growth Partners Fund III LP sold the shares at Rs 135.21 apiece.
The buyers in the transaction included SBI Mutual Fund and Nippon India Mutual Fund. SBI Mutual Fund acquired 1.32 crore shares worth Rs 177.79 crore, while Nippon India Mutual Fund purchased 70 lakh shares valued at Rs 94.50 crore.
This is the second major block deal involving Pine Labs within a week. Earlier, Madison India Capital sold 2.48 crore shares in a transaction worth Rs 356.86 crore, with investors such as Franklin Templeton, HSBC Mutual Fund, ICICI Prudential, Tata Mutual Fund and Morgan Stanley picking up the stake.
Altimeter Capital has been associated with Pine Labs since 2018, when it participated in the company’s $82 million funding round. Before the latest transaction, the investor held a 1.39% stake in the fintech company, which has now dropped below 1%.
The block deal comes at a time when Pine Labs’ stock has been under pressure following the expiry of its IPO lock-in period earlier this month.
For the full fiscal year FY26, Pine Labs reported a profit of Rs 112.5 crore against a loss of Rs 145.5 crore in FY25. Its revenue grew 19% to Rs 2,710.6 crore, marking the company’s first profitable full financial year since inception.
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