Madison India exits Pine Labs in ₹357 Cr block deal as stock hits post-IPO low

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).

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

Inc42 · 5/22/2026, 5:00:04 PM · Ask about this →

Pine Labs + Franklin Templeton + HSBC Mutual Fund + ICICI Prudential + Madison India Capital + Morgan Stanley + Tata Mutual Fund +