PhonePe Offloads 5% stake in MapmyIndia Worth of Rs 486 crore

Fintech giant PhonePe has sold a 5% stake in geotech company MapmyIndia through an open market deal worth Rs 486.03 Cr.

According to BSE data, PhonePe sold 27.21 lakh shares of MapmyIndia’s parent company, CE Info Systems, at Rs 1,786.22 each. As a result, its stake in the company dropped from 18.74% to 13.74%.

Out of the total shares sold, over 12.88 lakh were bought by Motilal Oswal Mutual Fund, ICICI Prudential Mutual Fund, and Tata Mutual Fund at Rs 1,785 each.

Motilal Oswal and ICICI Prudential picked up 4.2 lakh shares each, together investing Rs 150 Cr, while Tata Mutual Fund bought 4.48 lakh shares for around Rs 80 Cr.

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This update comes amid several key changes at MapmyIndia, including a strategic realignment. On April 1, Rohan Verma stepped down as CEO and now leads two major subsidiaries—Mappls DT (formerly Vidteq) and Gtropy—which focus on digital twin, defence, and GPS-based fleet analytics.

The parent company is now shifting its focus to the automotive and corporate sectors. Earlier this year, it also partnered with Qualcomm Technologies to co-develop next-generation automotive connectivity solutions.

About MapmyIndia 

Founded in 1995 by Rakesh Verma and Rashmi Verma, MapmyIndia creates detailed digital maps and location-based solutions, primarily for India. It also develops specialized software and services to help businesses and government agencies manage locations, vehicles, and assets more effectively.

A key offering is its digital twin technology—virtual replicas of real-world locations—which supports planning, disaster response, and other critical operations.

In the defence sector, MapmyIndia provides digital maps and tools to the Indian Army. It also offers GPS-based systems for tracking and managing vehicle fleets, to benifite both businesses and government agencies. 

Additionally, the company collaborates with various government bodies to support better planning and monitoring of projects using its mapping and location-based solutions.

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