Archive · 13 Jun 2025
PhonePe Sells Stake in MapmyIndia, Stock Price Drops
PhonePe, a digital payments company, sold a portion of its shares in MapmyIndia, a company that makes digital maps and location tools, for a large sum of money.
This sale caused MapmyIndia's stock price to drop.
Several mutual funds, like Motilal Oswal and ICICI Prudential, bought up a significant number of these shares.
Despite the stock price dip, MapmyIndia is still doing well financially, with increasing profits and revenue.
MapmyIndia provides digital maps and tools and also creates digital versions of real-world locations and has partnerships with the government.
PhonePe sold a 5% stake in MapmyIndia for INR 486.03 Cr.
Following the sale, PhonePe's stake in MapmyIndia decreased from 18.74% to 13.74%.
Motilal Oswal, ICICI Prudential, and Tata Mutual Funds purchased over 12.88 Lakh shares.
MapmyIndia's stock price fell by 9.39% on June 12.
The company's FY25 net profit rose 10% YoY to INR 147.6 Cr, while revenue increased 22% YoY to INR 463.3 Cr.
- Who
- PhonePe, MapmyIndia, Motilal Oswal, ICICI Prudential, and Tata Mutual Funds
- What
- PhonePe sold a 5% stake in MapmyIndia.
- When
- June 12, following the FY25
- Where
- BSE
- Why
- PhonePe offloaded its stake via open market transaction.
Investors
Company
Market Reaction to the Stake Sale
Investors
Some investors may view PhonePe's exit as a negative sign, causing them to sell their shares and leading to a price drop.
Company
Some investors see the dip as an opportunity to buy at a lower price, believing in the long-term potential of MapmyIndia, which is reflected in the mutual fund's purchase.
- Sale Amount
- INR 486.03 Cr
- Shares Sold
- 27.21 Lakh
- PhonePe's Stake After Sale
- 13.74%
- MapmyIndia Stock Price Drop
- 9.39%
- FY25 Net Profit
- INR 147.6 Cr
- FY25 Revenue
- INR 463.3 Cr