Mumbai, Sept. 21 -- Payment card services major Mastercard Inc. seeks to sell up to 49.7 million shares in Indian fintech firm Pine Labs Ltd on Tuesday through a block deal valued at up to Rs.893 crore ($93 million), according to a term sheet reviewed by Mint.

Mastercard Asia/Pacific Pte Ltd is offering shares at a floor price of Rs.179.50 per share, which represents a 7.3% discount to Pine Labs' closing price of Rs.193.70 on the National Stock Exchange on 21 September.

The total volume offered represents approximately 4.3% of the company's total outstanding equity shareholding. The proposed transaction would therefore mark the New York-based entity's exit from the company.

Citigroup Global Markets India Pvt. is acting as the sole plac...