CE Info Systems block deal: PhonePe likely to sell 5% stake in MapmyIndia today

Shares of C.E. Info Systems Ltd (MapmyIndia) are in focus on Thursday morning, as PhonePe is reportedly looking to offload a 5 per cent stake in the company today at a floor price of Rs 1,750 apiece, which is at 10.4 per cent discount to Wednesday's closing price. Phonepe owned 1,01,97,966 shares or 18.74 per cent stake in CE Info Systems at the end of March. The deal size for today's block is expected to be Rs 476.20 crore, as per CNBC TV18.

CE Info Systems had last month reiterated its FY28 revenue target of Rs 1000 crore-plus, with 35 per cent Ebitda margins. This is supported by a strong order book which is projected to reach Rs 2,000 crore by April 2028.

In auto, MapmyIndia sees attach rates rising to 23 per cent in FY28. This could imply volumes of 54 lakh (at c.90 per cent market share), JM Financial said in a recent note.

"In SEA, MMI sees a similar opportunity as India, with the TLT JV targeting 50 per cent/30 per cent market share in map data/software by 2030. The JV is building a unified map for the region, thus reducing implementation costs for OEMs. In Enterprise, MMI is focused on scaling through verticalization and wallet share gains," JM Financial said.

CE Info Systems is also planning to expand into SEA. MDT – the government business subsidiary is focused on scalable, IP-led solutions through an integrated platform and maintaining discipline in execution, it added while suggesting 'Buy' and a 12-month target price of Rs 2,620.

"The company’s strong order book, high IP ownership, and presence in high-growth areas like ADAS, EVs, geospatial AI, and digital twins provide long-term visibility and scalability. We have kept our estimates and rating unchanged. We currently have REDUCE rating with target of Rs 1,948, valuing it at PE of 40 times on March 2027 estimate," Centrum Broking said.

Centrum Broking said the company's growth will be supported by the doubling of attach rates in automotive, 5 times client expansion in enterprise, and deeper penetration in the public sector with a multi-product, integrated stack.