New Delhi, June 12 -- Walmart-owned fintech firm PhonePe sold a part of its stake in digital mapping firm MapmyIndia's parent CE Info Systems Ltd on Thursday, nearly a week after another Walmart-owned subsidiary, Flipkart, made back-to-back exits from two companies in India.

PhonePe sold around a 5% stake in MapMyIndia for about Rs 486 crore ($56.8 million) on Thursday. PhonePe owned an 18.74% stake as of March 2025.

CE Info Systems' share price fell 9.90% in Thursday's trading session to Rs 1,760 per share on the National Stock Exchange.

The partial exit comes nearly a decade after Flipkart picked up a 36.56% stake in MapmyIndia. The company transferred its stake to PhonePe in 2021.

In July 2021, PhonePe sold a 16.41% stake to MapMyIndia co-founder Rakesh Kumar Verma for Rs 85.32 crore. MapMyIndia went public in December 2021. PhonePe, however, didn't participate in the offer for sale in the IPO.

Meanwhile, Walmart's other subsidiary in India, Flipkart, last week, sold its stake in Aditya Birla Fashion and Retail Ltd (ABFRL), a day after exiting a logistics company that it backed a decade ago.

Flipkart offloaded its entire 6% stake in the Aditya Birla Group company for about Rs 587.7 crore ($68.4 million at current forex rates) through open market transactions, stock-exchange data show.

The exit comes four-and-a-half years after Flipkart invested about Rs 1,500 crore ($204 million then) in the fashion retailer to boost its offline presence. Flipkart had received a 7.8% stake in ABFRL at the time. However, its stake diluted over time as the fashion retailer issued fresh shares.

Flipkart also sold its entire 9% stake in logistics company BlackBuck earlier this month, generating multi-fold returns on its investment. Flipkart first backed BlackBuck in 2015 as part of the startup's $6 million Series A round. It later also participated in its Series B round the same year and the Series C round in 2016. Overall, it infused nearly Rs 112 crore into the company.

Published by HT Digital Content Services with permission from VC Circle.