Shares of Pine Labs crashed 10% to Rs 168.35 apiece on Wednesday after nearly 92.4 crore shares worth more than Rs 17,372 crore became eligible for trade as the six-month lock-in period expires today, according to Nuvama Institutional Equities.
Wednesday’s drop also marked the steepest single-day fall since the stock’s market debut last November, pushing it to its lowest level in over a month.
However, it is important to note that the lock-in expiry does not imply that all these shares will be offloaded in the market immediately. It simply means that these shares can now be traded by the shareholders. At the previous closing price of Rs 188.01 apiece on NSE, the said number of shares that will free up for trade today is worth more than Rs 17,372 crore.
Pine Labs share price
The shares of the popular digital payments platform made a
decent market debutin November last year, listing at a premium of nearly 9.5% over the IPO price at Rs 242 apiece on NSE. This came after the Rs 3,900-IPO of the company was subscribed around 2.5 times. On its debut day, the shares of the company hit a 52-week high of Rs 284 apiece, before beginning to decline.
After the listing, the shares have fallen more than 22% to close at Rs 188.01 apiece on Tuesday. The stock has fallen 34% from its 52-week low level.
Pine Labs earnings snapshot
Pine Labs will announce its earnings for the January-March quarter of the financial year 2026 on May 25. For the
December quarter, Pine Labs had reported a net profit of Rs 42 crore, as against a net loss of Rs 58 crore in the same quarter of the previous financial year.
The firm’s operating revenue meanwhile grew 23% year-on-year to Rs 744 crore in Q3 FY26, from Rs 601 crore in the year-ago period. Expenses grew at a slower pace of 13% to Rs 704 crore, compared with Rs 622 crore last year.
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