India, Sept. 22 -- Pine Labs' early backer Mastercard has exited the company by selling its entire 4.31% stake through a bulk deal on Tuesday. The investor offloaded 4.97 Cr shares at Rs.187.75 apiece, fetching Rs.933.6 Cr.

The deal was executed at a 5% discount to Pine Labs' closing price today. Mutual funds and foreign institutional investors emerged as key buyers, with ICICI Prudential Life Insurance Company picking up the largest chunk of 93.1 Lakh shares, according to BSE data.

Societe Generale bought 87.7 Lakh shares, while Citi Group acquired 66.7 Lakh shares. BNP Paribas, Goldman Sachs, Franklin Templeton, Kotak Mahindra Mutual Fund, Morgan Stanley and Susquehanna Pacific were among the other buyers.

This is Mastercard's second...