Private Equity

Liquidity Events

Altimeter Capital partially exits fintech co. Pine Labs via Rs.211-Cr block deal

Inc42   Pine Labs  

Altimeter Capital has offloaded 1.56 crore shares in Gurugram-headquartered fintech major Pine Labs through a block deal valued at INR 211.08 crore. The transaction was executed via Altimeter Growth Partners Fund III LP, at INR 135.21 per share.Altimeter Capital first invested in Pine Labs in 2018 during its USD 82 million funding round. Following this latest transaction, its stake in the company has fallen below 1%, down from the 1.39% stake it held at the end of the March quarter.Pine Labs recently reported its first full fiscal year of profitability, with a net profit of INR 112.5 crore for FY26 on operating revenue of INR 2,710.6 crore.

Between Apr 2009 and Mar 2022, Pine Labs had attracted about $ 1,658 M from New Atlantic Ventures, Peak XV Partners, Madison India, Actis, Altimeter Capital, PayPal, Temasek, Mastercard, Lone Pine Capital, Baron Capital, Marshall Wace, Moore Strategic Ventures, 360 ONE, Fidelity India, Kotak Alternate, Neuberger Berman, Tree Line Asia, Invesco, Alpha Wave Global, Vitruvian Partners and others.