Pine Labs Shares Rise 6% After Mastercard Sells 4.3% Stake in Block Deal

Pine Labs shares rose sharply on September 22 after Mastercard Asia-Pacific sold its entire stake in the fintech company through a block deal. 

Mastercard sold 4.97 crore shares, representing about 4.3% of Pine Labs, in a transaction valued at up to ₹892 crore. The deal was carried out at a floor price of ₹179.50 per share, which was 7.3% below Pine Labs’ previous closing price on the NSE. 

The Pine Labs shares moved higher after the transaction, rising 6% to touch ₹205 during the session. 

Trading activity jumps 

Trading in Pine Labs increased substantially following the block deal. By 10 am, shares worth up to ₹994.73 crore had changed hands, with 527.92 lakh shares traded. 

That was well above the stock’s two-week average volume of 44.93 lakh shares. 

The stock was volatile during the session. It initially slipped nearly 1% before recovering and moving higher. 

Mastercard held 4.31% in June 

Pine Labs’ shareholding pattern for June 2026 showed Mastercard Asia-Pacific with a 4.31% stake in the company. 

The 4.97 crore shares sold in the block deal correspond to the stake disclosed in the June shareholding pattern, indicating Mastercard’s complete exit from the company. 

Domestic institutional investors collectively held 24.82% of Pine Labs at the end of June, according to the available shareholding data. 

Mastercard’s holding was also disclosed in Pine Labs’ red herring prospectus. 

Buyers' identities not disclosed 

The identities of the buyers in the block deal were not disclosed in the available information. 

Pine Labs had not issued a statement on the transaction at the time of the reports. 

With Mastercard’s stake sold through the block deal, the fintech company’s shareholder mix has changed. The transaction also puts the shares sold by the strategic investor into the hands of public market participants, although the identities of the individual buyers are not available from the disclosures cited. 

Source: Business Today, CNBC-TV18, Zee Business and Mint