MapMyIndia shares crack 9% on likely 5% stake sale by PhonePe via block deal
Shares of CE Info Systems, the parent company of MapMyIndia, cracked 8.56% to their intraday low of Rs 1785 on the BSE on Thursday, June 12, after PhonePe Pvt. Ltd. likely sold off a 5% equity stake in the company through a block deal valued at Rs 476.2 crore.
The transaction was reportedly being offered at a floor price of Rs 1,750 per share, which represents a 10.4% discount to the stock’s last closing price, according to CNBC-TV18.
As of now, no official details of the transaction or the parties involved are known.
At the end of the March 2025 quarter, PhonePe held an 18.7% stake in CE Info Systems. The current deal would reduce its holding to around 13.7%, signalling a partial monetisation of its investment.
CE Info Systems reported a…
