India, June 19 -- UK based private equity firm Actis has offloaded 98.28 Lakh Cr shares of fintech major Pine Labs via a block deal worth Rs.151.6 Cr.

As per NSE data, the firm, via its holding entity Actis Pine Labs Investment Holdings, sold the shares at Rs.154.25 apiece. The block deal was sealed at a price 1.3% higher than the stock's closing price today (Rs.152.30). As of now, the identity of the buyer could not be discerned.

This is the third instance of a Pine Labs institutional backer offloading stake within the previous month. While Madison India offloaded 2.48 Cr shares in a bulk deal on May 22, Invesco pared off stake worth Rs.115.1 Cr.

Actis first acquired a stake in the fintech major in 2018, when it led its $82 Mn funding...