Pine Labs said that it has completed the acquisition of 100% stake in Shopflo Technologies by way of the purchase of shares from the existing shareholders of Shopflo.
The company’s board has approved this acquisition in April 2026.
Shopflo is engaged in the business of development, deployment, operation and commercialization of a direct-to-consumer checkout platform and offers engine and e-commerce enablement services and/or solutions and technology. The company had recorded turnover of Rs 14.73 crore for the year ended in March 2025.
The aforesaid stake was acquired for a cash consideration of Rs 88 crore.
Pine Labs had stated that Shopflo will help the company offer D2C merchants an integrated, end-to-end platform that spans in-store payments and merchant solutions; online checkout, conversion optimization and D2C growth tools; consumer engagement and retention capabilities and seamless data and insights across channels.
Consequent to completion of the acquisition, Shopflo has become a wholly owned subsidiary of the company with effect from 10 June 2026, Pine Labs announced in a statement filed with the domestic bourses yesterday.
Pine Labs is a technology company focused on digitizing commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions.
The company had reported a net profit of Rs 59 crore in Q4 FY26 as against a net loss of Rs 29 crore recorded in Q4 FY25. Revenue rose by 17% year-on-year (YoY) to Rs 701 crore during the period under review.
The scrip shed 0.53% to currently trade at Rs 149.55 on the BSE.
Source: Business-Standard