Alpha Wave Offloads ₹550 Crore Stake in Pine Labs

2 Sept 2026, 8:07 pm · 10d ago · 1 min read · Inc42

Amount

₹550 Cr

Stage

Secondary

Investment firm Alpha Wave Ventures II has offloaded over 3.54 crore shares of fintech major Pine Labs via block deals on the National Stock Exchange for ₹550 crore. The shares were sold at an average price of ₹155.10 per share, representing a 4.4% discount to the stock's closing price. The transaction reduced Alpha Wave's holding in Pine Labs from nearly 3.1% to just 4.9 lakh shares. Buyers included ICICI Prudential Life Insurance, which bought over 1 crore shares, Societe Generale, Goldman Sachs, JM Financial, and Edelweiss. Alpha Wave recently sold large stakes in Lenskart and Aye Finance.