SBI Mutual Fund and Nippon India Mutual Fund have acquired a combined 1.75 percent stake worth ₹272 crore in Pine Labs, the point of sale and payment systems provider. According to bulk deals data, SBI Mutual Fund acquired 1.3 crore equity shares (1.14 percent stake) for ₹177.79 crore, while Nippon India Mutual Fund bought 70 lakh shares (0.6 percent stake) for ₹94.5 crore. Their buying price was ₹135 per share. As reported by Moneycontrol, SBI Mutual Fund through SBI Midcap Fund already held a 5.24 percent stake in Pine Labs as of March 2026.
Altimeter Growth Partners Fund III LP, a venture capital fund owned by Altimeter Capital Management, sold 1.56 crore Pine Labs shares (1.35 percent stake) for ₹211.08 crore at ₹135.21 per share. The fund was holding a 1.39 percent stake in the fintech and commerce technology platform before this exit. This transaction represents a significant stake reduction by the venture capital fund.
Both companies experienced positive market reactions following the deal announcements. As reported by Moneycontrol, Pine Labs shares rose 5.7 percent to ₹145.83 and Indoco Remedies soared 5.6 percent to ₹204 on the National Stock Exchange amid high volumes. Both companies have rebounded after several days of sharp correction, with the market responding positively to the institutional investments.
ICICI Prudential Mutual Fund acquired 13.58 lakh shares (1.47 percent stake) in pharma company Indoco Remedies for ₹26.88 crore, with the buying price at ₹198 per share. Meanwhile, Prataap Snacks maintained its upward journey for the second consecutive session, rising 3.06 percent to ₹1,144.65 on top of a 13.3 percent rally seen in the previous day. Promoter Authum Investment & Infrastructure picked up additional 1.3 lakh shares (0.54 percent stake) for ₹14.69 crore at ₹1,123.15 per share, maintaining its upward trajectory.
