Pine Labs-owned Setu to take full ownership of account aggregator Agya Technologies
20 Jan 2026, 08:19 PMPine Labs currently holds approximately 25% stake in Agya Technologies.
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Pine Labs-owned fintech infrastructure platform Setu is set to get complete ownership of RBI-licensed account aggregator Agya Technologies.
The Reserve Bank of India (RBI) has granted approval to Setu (BrokenTusk Technologies Pvt Ltd) to increase its shareholding to 100% in Agya Technologies Pvt Ltd, which currently functions as an associate entity of Setu, according to a regulatory filing.
Pine Labs currently holds approximately 25% stake in Agya Technologies and intends to complete the acquisition of the remaining shareholding in the near term, potentially through one or more tranches, the filing stated.
Setu operates as the fintech infrastructure division of Pine Labs, focusing on API-based financial services infrastructure.
The development comes after Pine Labs obtained all three digital payment licences from the RBI late last year. These licences encompass offline payments, online merchant payments, and cross-border transactions, allowing the company to provide a comprehensive suite of digital payment services across various merchant touchpoints.
Last year, Pine Labs debuted on the public markets with a 9.5% premium over its issue price.
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