Alpha Wave Sells Pine Labs Stake Worth Rs 550 Crore

2 Sept 2026, 10:27 pm · 10d ago · 1 min read · Entrackr

Amount

Rs 550 Cr

Stage

Secondary

Lead

ICICI Prudential Life Insurance

Global investment firm Alpha Wave has offloaded nearly its entire stake in fintech major Pine Labs through a Rs 550 crore block deal. Alpha Wave sold 3.54 crore shares, or a 3.11% stake, at Rs 155.10 per share. Institutional investors picked up the shares, led by ICICI Prudential Life Insurance with a Rs 160 crore purchase. Other buyers included Morgan Stanley, Societe Generale, Goldman Sachs, and Norges Bank. Alpha Wave retains just 4.85 lakh shares after the transaction, continuing its trend of monetising holdings in Indian tech startups like Delhivery and Lenskart.