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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.
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