Shares of CE Info Systems Ltd (MapmyIndia) crashed over 7% to ₹1,804 in early trade on June 12, following a large block deal. As per exchange data, 28.6 lakh shares, amounting to 5.3% equity, changed hands at ₹1,813.7 per share, aggregating to approximately ₹476.2 crore.
According to reports by CNBC-TV18, PhonePe Private Ltd, which held an 18.7% stake in the company as of March-end, has initiated a block deal to sell up to 5% stake in the parent company of MapmyIndia. The floor price was reportedly set at a 10% discount to the current market price. However, the identity of the buyers and sellers remains unconfirmed.
This development comes as PhonePe is preparing for its own public listing, with CEO Sameer Nigam indicating the company believes “now is the right time” to go public.
Despite today’s stock slide, MapmyIndia reported strong Q4FY25 results, with net profit rising 28.2% YoY to ₹48.6 crore and revenue growing 34.2% to ₹144 crore. EBITDA rose 46% to ₹58 crore, though EBITDA margin narrowed slightly to 34.4% from 37% YoY.
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