Mastercard Exits Pine Labs in ₹934 Cr Deal

Inc42 · startup

Mastercard has exited Pine Labs by selling its entire 4.31% stake for ₹933.6 crore in a bulk deal. The investor offloaded 4.97 crore shares at a 5% discount to Tuesday's closing price. Mutual funds and foreign institutional investors were the primary buyers, with ICICI Prudential Life Insurance acquiring the largest portion. Mastercard first backed Pine Labs in 2020 and had previously sold shares during the company's IPO in November 2025.