Mastercard, through its affiliate -- Mastercard Asia/Pacific, has divested its entire shareholding held in Pine Labs through open market transactions worth around Rs 933.57 crore. Mastercard Asia/Pacific has offloaded around 4.97 crore shares, representing 4.31% of total shareholding, of the company in 13 tranches at an average price of Rs 187.75 apiece.
Meanwhile, a clutch of mutual Funds managed by Kotak Mahindra, Edelweiss and Franklin Templeton, along with ICICI Prudential Life Insurance Company, bought an equal number of shares at the same price. Foreign investors include Goldman Sachs, Morgan Stanley, Citigroup Global Markets Singapore, BNP Paribas Arbitrage, Ghisallo Capital Management, Rams Equities Portfolio Fund, Societe Generale, Susquehanna International Group and NRSGVCC.
Pine Labs offers a merchant platform that includes technology and financial solutions for merchants. The company also leverages technology and domain expertise for merchants of all sizes helping them to thrive in the changing global marketplace.
