Fintech co. PhonePe sells shares of MapMyIndia parent worth Rs.486-Cr in bulk deal

Bengaluru-based digital payments platform PhonePe has offloaded a 5% stake in New-delhi based MapMyIndia via an open market transaction for INR 486.03 Crore.It sold 27.21 lakh shares of the startup’s parent CE Info Systems at INR 1,786.22 each. Following this, PhonePe’s stake in MapMyIndia fell from 18.74% to 13.74%.Founded in 1995 by Rakesh Verma and Rashmi Verma, MapmyIndia makes detailed digital maps and location-based tools, mainly for India.The company’s net profit rose 10% YoY to INR 147.6 crore in FY25 while operating revenue increased 22% YoY to INR 463.3 crore.