PhonePe pares 5% stake in MapmyIndia for Rs 486 crore

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.