SBI Mutual Fund, Nippon India Mutual Fund Acquire Major Stake in Pine Labs, ICICI Prudential Mutual Fund Buys Stake in Indoco Remedies

Mutual Funds Make Strategic Investments in Indian Companies

SBI Mutual Fund and Nippon India Mutual Fund have made significant investments in Pine Labs, a leading provider of point of sale and payment systems, acquiring 1.75 percent shares worth Rs 272 crore. ICICI Prudential Mutual Fund has also picked up a 1.5 percent stake in Indoco Remedies, a pharma company, via open market transactions on May 27.

The investments have had a positive impact on the stock prices of both companies. Pine Labs saw its shares rise 5.7 percent to Rs 145.83, while Indoco Remedies soared 5.6 percent to Rs 204 on the National Stock Exchange. This rebound comes after several days of sharp correction.

According to bulk deals data on Wednesday, SBI Mutual Fund acquired an additional 1.3 crore equity shares (1.14 percent stake) in Pine Labs for Rs 177.79 crore, and Nippon India Mutual Fund bought 70 lakh shares (0.6 percent stake) for Rs 94.5 crore. Their buying price was Rs 135 per share.

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SBI Mutual Fund, through its SBI Midcap Fund, held a 5.24 percent stake in Pine Labs as of March 2026. In contrast, 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 Rs 211.08 crore at Rs 135.21 per share. The fund was holding a 1.39 percent stake in the fintech and commerce technology platform.

Meanwhile, ICICI Prudential Mutual Fund bought 13.58 lakh shares (1.47 percent stake) in Indoco Remedies for Rs 26.88 crore. The buying price was Rs 198 per share.

Prataap Snacks continued its upward journey for the second consecutive session, rising 3.06 percent to Rs 1,144.65. The trading volume remained above-average on both days, especially after deals. Promoter Authum Investment & Infrastructure picked up additional 1.3 lakh shares (0.54 percent stake) in Prataap Snacks for Rs 14.69 crore at Rs 1,123.15 per share. This is in addition to 1.3 percent stake bought by Authum in the previous session.

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As of March 2026, Authum as a promoter held a 43.66 percent stake in Prataap Snacks.