PhonePe Sells Part of Its Stake in MapmyIndia’s Parent Company

Digital Payments Leader Reduces Share in CE Info Systems

New Delhi: PhonePe, a top digital payments firm, has sold part of its stake in CE Info Systems. CE Info Systems owns MapmyIndia. PhonePe sold a 5% stake for Rs 486 crore in an open market deal.

What Happened in the Deal

• PhonePe is owned by Flipkart, which Walmart controls.
• After the sale, CE Info Systems’ shares fell by 9.4%.
• The shares closed at Rs 1,769 each on the Bombay Stock Exchange (BSE).

BSE data shows PhonePe sold 27.2 lakh shares. This is a 5% stake in CE Info Systems. The shares were sold at an average price of Rs 1,786 each. The total deal was worth Rs 486 crore.

How This Affects PhonePe’s Share

After this deal, PhonePe’s share in CE Info Systems has dropped. It fell from 18.7% to 13.7%.