Pine Labs shares rise 2% after ₹934 crore block deal
pre-market1 source ↓written by the desknot a recommendation
- to ₹925 following
- 2%
- block deal
- ₹934 crore
- were sold
- 4.97 crore shares
- each
- ₹188
- sold its entire
- 4.31% stake
Pine Labs shares increased 2% to ₹925 following a ₹934 crore block deal, where 4.97 crore shares were sold at ₹188 each. Mastercard reportedly sold its entire 4.31% stake, valued at up to ₹892.5 crore. This transaction was a 100% secondary sale, with no new funds for the company.
Citigroup Global Markets India acted as the placement agent for this deal, which closed on 22 Sep 2023. The sale reflects a strategic exit by Mastercard from its investment in Pine Labs.
Not investment advice. For informational purposes only.