Major Stake Exits Rock Market: Alpha Wave Offloads Delhivery; Pine Labs Breaks Out Amid Investment Inflow
Venture capital movements dominated the markets as major stakeholders executed significant stake sales across key technology and logistics players. Alpha Wave Ventures LP completed the entire exit of its stake in Delhivery, while Actis offloaded a substantial portion of its holding in fintech unicorn Pine Labs on June 24.Institutional Exodus: Alpha Wave Exits Delhivery; Actis Offloads Pine Labs Stake
Alpha Wave Ventures conducted two transactions totaling the sale of 1.44 crore shares (a 1.93 percent stake) of Delhivery. These sales totaled ₹664.7 crore, with shares sold at Rs 460.36 and Rs 460.03 per share respectively.Despite this significant divestment by the global private equity fund, Delhivery shares rose nearly one percent to Rs 481.05 amid high volumes on the National Stock Exchange. The stock has been showing consistent uptrend since testing its 200-day EMA thrice in the current month.
Meanwhile, UK firm Actis Pine Labs Investment Holdings sold 2.39 crore equity shares (a 2.08 percent stake) of Pine Labs via open market transactions for ₹371 crore. The selling price for these shares was Rs 155.17 per share. This sale added to a previous offload in June, representing a total decrease of 2.93 percent from Actis’s March 2026 holding of 4.58 percent.
Pine Labs Gains Momentum Amid Buying Interest
Amid the institutional selling by Actis, Axis Mutual Fund made a strategic acquisition move in Pine Labs. The fund purchased 96.15 lakh shares (a 0.83 percent stake) at Rs 154 per share, valued at ₹148.07 crore.Pine Labs, which provides digital payment solutions and merchant financing, closed trading on the National Stock Exchange with a strong surge of 7.48 percent, reaching Rs 161.27. The fintech unicorn’s stock has been showing significant momentum, marking a major breakout after a month-long consolidation period.
Logistics and Automotive Stocks See Mixed Trends
The logistics sector saw movement in Shadowfax Technologies, which rallied 3.18 percent to close at Rs 228.71. This positive trend occurred despite Mirae Asset Late Stage Opportunities Fund selling 56.5 lakh shares (a 0.97 percent stake) for ₹119.78 crore at Rs 212 per share.Overall, Shadowfax has been in an uptrend since mid-March, having climbed more than 118 percent. Concurrently, India Motor Parts & Accessories corrected by 3.07 percent to reach Rs 1,084.4 after a recent rally. Promoter Gita Ram acquired additional shares (0.86 percent stake) for ₹8.01 crore, while Pari Washington Company sold 1.22 lakh shares (1.47 percent stake).
New Investment and Warehousing Acquisitions
In infrastructure news, Hypotenuse Investments bought 2.45 lakh shares (a 1.11 percent stake) in Markolines Pavement Technologies for ₹4.23 crore. The buying price was Rs 173 per share, and the stock closed up 0.69 percent at Rs 173.09.A large institutional transaction involving warehousing was also reported. NDR Warehousing and NDR Universal Enterprises acquired 1.46 crore units in NDR INVIT Trust from Investcorp India Warehousing IFSC Trust for ₹200.36 crore. The exchange rate for these units was Rs 137 per unit.
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