Liquidity Events
Alpha Wave sells 3.1% stake in fintech co. Pine Labs fetching Rs.550-Cr
Investment firm Alpha Wave has offloaded a 3.1% stake in Noida-based fintech Pine Labs through a series of block deals, generating INR 550-Cr. The shares were sold by the firm’s holding entity, Alpha Wave Ventures II, at an average price of INR 155.10 per share. Following the sale, Alpha Wave’s holdings in the company have been reduced to 4.9 lakh shares from the 3.59 Cr shares held at the end of the June quarter.Pine Labs provides a range of merchant platform services, including digital payments and business financing solutions. The firm’s recent financial reports indicate a net profit of INR 19.6 Cr for Q1 FY27, with operating revenue of INR 736.9 Cr.
Between Apr 2009 and Jun 2022, Pine Labs had attracted about $ 1658 M from New Atlantic Ventures, Peak XV Partners, Alpha Wave Global, Temasek, 360 ONE, Actis, Others.For FY26, Pine Labs had reported about INR 1,926 Cr in Operating Income and about INR 150 Cr in PAT.
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