Tech
PhonePe pares 5% stake in MapmyIndia for Rs 486 crore
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Digital payments major PhonePe on Thursday trimmed its holding by selling a 5 per cent stake in CE Info Systems, the parent company of MapmyIndia, for Rs 486 crore through an open market transaction.
PhonePe is an arm of Walmart-controlled online retailer Flipkart.
Following the stake sale, shares of CE Info Systems plunged 9.39 per cent to settle at Rs 1,768.75 apiece on the BSE.
According to the bulk deal data available on the BSE, PhonePe Ltd offloaded 27.21 lakh shares, amounting to a 5 per cent stake in CE Info Systems.
The shares were sold at an…
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