PhonePe, one of India’s leading digital payments platforms, has divested a 5% stake in geospatial intelligence company MapmyIndia (operated by CE Info Systems) through an open market transaction, generating proceeds of INR 486.03 crore. The transaction underscores evolving dynamics in India’s digital and mapping sectors as fintech and geotech leaders realign their strategic priorities.
According to data available on the Bombay Stock Exchange (BSE), PhonePe sold approximately 27.21 lakh shares at an average price of INR 1,786.22 per share. As a result of the transaction, PhonePe’s shareholding in MapmyIndia decreased from 18.74% to 13.74%, marking a significant partial exit from one of its key strategic investments.
A large portion of the offloaded shares found eager buyers among top domestic institutional investors. Over 12.88 lakh shares were acquired by Motilal Oswal Mutual Fund, ICICI Prudential Mutual Fund, and Tata Mutual Fund at INR 1,785 per share. Specifically:
- Motilal Oswal and ICICI Prudential picked up 4.2 lakh shares each, collectively investing INR 150 crore.
- Tata Mutual Fund bought 4.48 lakh shares, valued at nearly INR 80 crore.
Despite the strong institutional interest, the market reacted negatively to PhonePe’s divestment. Shares of MapmyIndia ended the trading session on Friday, June 12, down 9.39%, closing at INR 1,768.75 on the BSE.
Strategic Shifts at MapmyIndia
The divestment follows a series of significant developments at MapmyIndia, signaling a period of transformation for the 30-year-old geospatial pioneer. In a strategic leadership reshuffle that took effect on April 1, Rohan Verma stepped down as the CEO of the parent company to take on leadership roles at two critical subsidiaries—Mappls DT (formerly Vidteq) and Gtropy. These units focus on next-generation capabilities such as digital twin technologies, defence-grade mapping, and GPS-based fleet analytics.
The parent organization, CE Info Systems, has since recalibrated its core focus areas, shifting its attention toward the automotive and enterprise verticals. As part of this broader vision, MapmyIndia earlier this year entered into a strategic partnership with Qualcomm Technologies to co-develop advanced automotive connectivity solutions, reinforcing its long-term ambition to lead in smart mobility and connected vehicle ecosystems.
A Legacy of Innovation and Resilience
Founded in 1995 by Rakesh Verma and Rashmi Verma, MapmyIndia has played a pioneering role in India’s digital mapping ecosystem. The company provides detailed digital maps, location-based services, and custom software solutions catering to a wide range of users, from enterprises and logistics providers to government agencies and the armed forces.
One of MapmyIndia’s most prominent offerings is the development of digital twins—virtual replicas of real-world environments—which are used in urban planning, disaster response, infrastructure monitoring, and more. The company also delivers robust defence mapping solutions to the Indian Army and offers GPS-enabled fleet management systems that enable better asset tracking and logistics oversight for both private companies and public sector bodies.
In its commitment to public-private synergy, MapmyIndia continues to work closely with local and national government bodies to support critical infrastructure and civic planning initiatives through its data and tools.
Financial Performance Remains Robust
Despite leadership changes and market fluctuations, MapmyIndia’s operational performance remains solid. For the fourth quarter (Q4) of FY25, the company reported a 28% year-on-year (YoY) increase in net profit, reaching INR 49 crore. Simultaneously, operating revenue rose by 34% YoY, touching INR 143.6 crore.
For the full fiscal year (FY25), the geotech company posted a 10% YoY growth in net profit, totaling INR 147.6 crore, while revenue from operations climbed 22% YoY to INR 463.3 crore.
What’s Next?
While PhonePe’s partial exit might suggest a strategic rebalancing of its investment portfolio, MapmyIndia appears firmly positioned for future growth, supported by technological innovation, new partnerships, and sectoral diversification. As geospatial data becomes increasingly vital across industries—from defence and mobility to smart cities and logistics—MapmyIndia’s next phase will be one to watch closely.
