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Actis, a significant early investor in the fintech firm Pine Labs, has further reduced its stake by selling 2.39 crore shares in a block deal valued at ₹371 crore. This transaction marks the second such divestment by the private equity firm within the past week.
According to data from the Bombay Stock Exchange (BSE), Actis, through its holding entity Actis Pine Labs Investment Holdings, offloaded the shares at a price of ₹155.17 per share. Axis Mutual Fund was among the buyers, acquiring 96.15 lakh shares for ₹148 crore.
This follows a previous sale on June 19, where Actis sold 98.28 lakh shares in Pine Labs for ₹151.6 crore. The recent spate of share sales by Actis occurs after the lock-in period for the company’s shares expired in May, coinciding with divestments by other investment firms such as Altimeter Capital and Madison India Capital over the past month.
Actis initially invested in Pine Labs in 2018, leading an $82 million funding round. The firm had previously sold shares worth ₹194.7 crore during Pine Labs’ Initial Public Offering (IPO) in November 2025. As of the March quarter, Actis held a 4.58% stake in Pine Labs, representing 5.26 crore shares.
Pine Labs recently reported a turnaround in its financial performance, posting a consolidated net profit of ₹59.4 crore for the fourth quarter of FY26, a significant improvement from a loss of ₹28.9 crore in the same period last year. Operating revenue for the quarter increased by 14.7% year-on-year to ₹700.5 crore.
For the full fiscal year 2026, Pine Labs recorded a profit of ₹112.5 crore, compared to a loss of ₹145.5 crore in FY25. Revenue for FY26 grew by 19% to ₹2,710.6 crore.
Looking ahead, Pine Labs plans to launch infrastructure for stablecoin-backed prepaid cards in global markets. In light of these developments, brokerage firm Morgan Stanley has maintained a ‘hold’ rating on the stock with a price target of ₹245.
Shares of Pine Labs closed at ₹161.25 on the BSE, reflecting a 7.5% increase, with the company’s market capitalization standing at ₹18,515.96 crore ($1.96 billion).
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