MapMyIndia's Verma sells shares for 'philanthropy', stock falls 5%

MapMyIndia Co-founder Rakesh Verma is selling up to 5 lakh shares for philanthropy "as per his passion and commitment to an Aatmanirbhar, Sarvottam Bharat", the company said in an exchange filing. The promoters have no intention of selling more shares, it added. MapMyIndia's shares fell around 5% on Wednesday to hit an intra-day low of ₹2,271.