PhonePe sold 27.21 lakh shares of MapmyIndia, worth ₹486 crore, reducing its stake from 18.74% to 13.74%.

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The sale price per share was ₹1,786.22, as reported in BSE data, signaling a major secondary market transaction.

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Top mutual funds—Motilal Oswal, ICICI Prudential, and Tata Mutual Fund—picked up over 12.88 lakh shares in bulk deals.

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Following PhonePe’s partial exit, MapmyIndia’s stock dropped 9.39%, closing at ₹1,768.75 on June 12.

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Motilal Oswal and ICICI Prudential invested ₹150 crore each, while Tata Mutual Fund bought shares worth nearly ₹80 crore.

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CEO Rohan Verma resigned from his position on April 1 and now leads key subsidiaries Mappls DT and Gtropy.

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The leadership shift aligns with a strategic focus on digital twin technologies and GPS-based analytics platforms.

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MapmyIndia is sharpening its business focus toward the automotive and enterprise sectors after a major restructuring.

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In partnership with Qualcomm, the company aims to develop advanced automotive connectivity and geospatial solutions.

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Despite market volatility, MapmyIndia posted a 28% YoY rise in Q4 net profit and 22% YoY growth in FY25 revenue.

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