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Pine Labs shares fall after lock-in expiry

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Pine Labs shares fell 22.15% this week to an all-time low after IPO lock-in expiry on May 13

The stock ended at ₹152.7, reflecting broader market pressure and investor selling

Pine Labs also partnered with GCash for Business to integrate instalment plans and rewards

Pine Labs shares fell 22.15% during the week, the biggest loser among new-age tech stocks.
The decline followed the IPO lock-in expiry on May 13, which allowed early investors to sell shares.
The stock hit an all-time low of ₹151 on May 13 and ended the week at ₹152.7.
Pine Labs also partnered with GCash for Business, a Philippines-based fintech, to integrate instalment payment plans, rewards, loyalty, and cashback with its existing merchant acquiring solution.
The partnership aims to enhance the merchant offering with additional payment features.
The broader market was under pressure due to geopolitical tensions, a plunging rupee, and rising inflation.

The lock-in expiry allowed early investors to sell, increasing supply of shares and pressuring the price.
The stock's decline reflects broader market weakness, with 46 of 57 new-age tech stocks falling this week.
The partnership with GCash for Business signals Pine Labs' expansion into Southeast Asian markets.
Investor sentiment was dampened by global factors like crude oil prices above $105 per barrel.