TECH NEWS

Mastercard Exits Pine Labs As Early Investors Reduce Stakes

Pine Labs is seeing a gradual change in its investor base less than a year after going public. Some of its early institutional backers are reducing their holdings, while mutual funds, insurers and foreign institutional investors are taking their place.

Mastercard is the latest, and one of the more significant, investors to make a complete exit.

The payments major sold its entire 4.31% stake in Pine Labs for about ₹934 crore through transactions on the BSE on Tuesday. Mastercard Asia/Pacific Pte Ltd offloaded 4.97 crore shares at an average price of ₹187.75 per share.

The transaction comes at an interesting point for Pine Labs. Its shares remain more than 15% lower on a year-to-date basis, but have gained over 25% in the past month. The stock closed Tuesday at ₹197.55, up 2.07%.

Mastercard Closes Its Pine Labs Investment

Mastercard first invested in Pine Labs in 2020. Its latest sale completes...

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Mastercard Closes Its Pine Labs Investment

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YouTube is building AI creator tools that do almost everything for them

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