Madison India Capital sells nearly entire Pine Labs holding
25 May 2026, 06:21 PMThis is the second major monetisation by Madison India Capital from its decade-old investment in Pine Labs.
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Madison India Capital has sold almost its entire remaining stake in Pine Labs after selling 2.48 crore shares in a block deal valued at nearly Rs 357 crore.
The transaction was carried out through the firm’s Madison India Opportunities IV fund at a price of Rs 144 per share.
Several institutional investors participated in the deal, including Franklin Templeton, HSBC Mutual Fund, ICICI Prudential Mutual Fund, Tata Mutual Fund, and Morgan Stanley. Among them, HSBC Mutual Fund acquired the largest portion of shares.
Following the latest transaction, Madison India Capital has almost completely exited its holding in Pine Labs.
The investment firm had owned 2.53 crore shares in the fintech company at the end of the March 2026 quarter.
This is the second major monetisation by Madison India Capital from its decade-old investment in Pine Labs. Earlier, the PE firm had sold over 30 lakh shares during the company’s IPO, earning around Rs 66.7 crore and securing a return multiple of 5.6 times.
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 as investors including Peak XV Partners also pared their stake in the fintech company.
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