Pine Labs Limited
Nippon India Mutual Fund made a new position in Pine Labs, acquiring 2,36,35,083 shares, which represents a 2.05% stake in the company. The stake is valued at ₹361.94 crore based on a share price of ₹153.17. Nippon India Mutual Fund also bought 70 lakh shares for ₹94.5 crore at ₹135 per share in a bulk deal.
A leading Indian merchant commerce platform, Pine Labs provides point-of-sale solutions, payment processing, and merchant financing services to businesses across the country. The company operates a comprehensive ecosystem that enables merchants to accept digital payments, manage transactions, and access financial services. Its integrated approach combines technology infrastructure with financial offerings, serving as a critical player in India's digital commerce and payments landscape.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.