India, June 24 -- Undertaking a second stake sale within a week, Pine Labs' early backer Actis has now sold 2.39 Cr shares in a block deal worth Rs.371 Cr today.

As per BSE bulk deal data, the private equity firm, via its holding entity Actis Pine Labs Investment Holdings, offloaded the shares at Rs.155.17 per share. A portion of the shares were lapped up by Axis Mutual Fund, with the investor buying 96.15 Lakh shares for Rs.148 Cr.

This is the second stake sale for the investor within a week. On June 19, the UK based PE firm offloaded 98.28 Lakh Cr in Pine Labs via a block deal for Rs.151.6 Cr.

Pine Labs has seen two more investment firms Altimeter Capital, Invesco and Madison India Capital also diluted their stakes over the previous ...