Madison India Capital sold nearly its entire Pine Labs stake at ₹144/share via a ₹356.86 Cr block deal, with HSBC MF, Franklin Templeton, ICICI Pru and Tata MF among buyers. The payments firm's stock closed at ₹142.8, a post-IPO low, despite Q3 FY26 revenue of ₹744.3 Cr (+24% YoY).

Inc42 · 5/22/2026, 5:00:04 PM

Madison India Capital sold 2.48 Cr Pine Labs shares at ₹144 apiece, raising ₹357 Cr in a near-full exit post lock-in expiry. HSBC MF picked up 61.73 Lakh shares (₹88.89 Cr); Franklin, ICICI Pru and Tata MF also absorbed stock. Shares hit a post-IPO low of ₹141.05, closing -3.71% at ₹142.8 despite Q3 swing to ₹42.4 Cr profit on 24% YoY revenue growth.

Inc42 · Buzz · 5/22/2026, 4:59:56 PM