Mastercard Exits Pine Labs, Sells Entire 4.31% Stake
Mastercard exits Pine Labs, selling its entire 4.31 per cent stake for INR 933.57 crore via BSE block deals.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Mastercard, through its affiliate Mastercard Asia/Pacific Pte Ltd, has exited Pine Labs, selling its entire 4.31 per cent stake in the Noida-based fintech firm for INR 933.57 crore through block deals on the BSE on Tuesday. The company sold 4,97,24,182 shares in 13 tranches at an average price of INR 187.75 apiece, a 5 per cent discount to Pine Labs’ closing price.
Mutual funds managed by Kotak Mahindra, Edelweiss and Franklin Templeton, along with ICICI Prudential Life Insurance Company, were among the largest buyers. Foreign investors including Goldman Sachs, Morgan Stanley, Citigroup Global Markets Singapore, BNP Paribas Arbitrage, Societe Generale and Susquehanna International Group also picked up shares. Pine Labs shares rose 2.07 per cent to close at INR 197.55 on the BSE.
Mastercard first backed Pine Labs in 2020 and had already sold 59.2 lakh shares during the company’s IPO in November 2025 for INR 130.9 crore, generating 1.7x returns on its initial investment. Tuesday’s transaction marks its complete exit from the company.
The sale adds to a string of stake sales by Pine Labs’ early institutional backers. In June, financial services firm Actis divested a little over 2 per cent stake in Pine Labs for INR 371 crore, and Actis Pine Labs Investment Holdings, part of General Atlantic, sold nearly a 1 per cent stake for INR 152 crore in the same month.
Mastercard, through its affiliate Mastercard Asia/Pacific Pte Ltd, has exited Pine Labs, selling its entire 4.31 per cent stake in the Noida-based fintech firm for INR 933.57 crore through block deals on the BSE on Tuesday. The company sold 4,97,24,182 shares in 13 tranches at an average price of INR 187.75 apiece, a 5 per cent discount to Pine Labs’ closing price.
Mutual funds managed by Kotak Mahindra, Edelweiss and Franklin Templeton, along with ICICI Prudential Life Insurance Company, were among the largest buyers. Foreign investors including Goldman Sachs, Morgan Stanley, Citigroup Global Markets Singapore, BNP Paribas Arbitrage, Societe Generale and Susquehanna International Group also picked up shares. Pine Labs shares rose 2.07 per cent to close at INR 197.55 on the BSE.
Mastercard first backed Pine Labs in 2020 and had already sold 59.2 lakh shares during the company’s IPO in November 2025 for INR 130.9 crore, generating 1.7x returns on its initial investment. Tuesday’s transaction marks its complete exit from the company.
The sale adds to a string of stake sales by Pine Labs’ early institutional backers. In June, financial services firm Actis divested a little over 2 per cent stake in Pine Labs for INR 371 crore, and Actis Pine Labs Investment Holdings, part of General Atlantic, sold nearly a 1 per cent stake for INR 152 crore in the same month.
