Mastercard fully exits Pine Labs
The stake was purchased by a mix of domestic and international institutional investors.
1 min read
Global payments company Mastercard has sold its entire 4.31% stake in fintech firm Pine Labs through a bulk deal valued at nearly Rs 934 crore.
As per BSE bulk deal data, Mastercard Asia/Pacific Pte. Ltd. offloaded 4.97 crore shares at Rs 187.75 apiece, generating around Rs 933.6 crore from the transaction.
The stake was purchased by a mix of domestic and international institutional investors. ICICI Prudential Life Insurance Company was the largest buyer, acquiring 93.1 lakh shares.
Other major buyers included Societe Generale, Citigroup Global Markets Singapore, BNP Paribas Arbitrage, Goldman Sachs, Edelweiss Mutual Fund, Kotak Mahindra Mutual Fund, Morgan Stanley Asia Singapore, Franklin Templeton Mutual Fund, and Susquehanna Pacific.
Other investors have also been offloading their stakes in Pine Labs since the mandatory lock-in period for pre-IPO shareholders ended. Earlier this month, Alpha Wave pared down almost all of its 3.11% holding through a Rs 550 crore block deal, while Actis sold shares worth over Rs 500 crore across multiple transactions in June.
Pine Labs reported a 20% increase in operating revenue to Rs 737 crore in Q1 FY26. Its profit rose more than four times to Rs 20 crore during the quarter.