Walmart-backed PhonePe has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The regulatory nod, granted on January 20, marks a significant milestone for the fintech giant as it prepares to tap capital markets and expand its digital ecosystem.
PhonePe, one of India’s leading digital payments platforms, has officially secured SEBI’s approval to proceed with its IPO. Backed by Walmart, the company is expected to leverage the public listing to strengthen its financial position, expand services, and accelerate innovation in India’s fast-growing fintech sector. The IPO is anticipated to be one of the most closely watched offerings in 2026, given PhonePe’s scale and market leadership.
Key highlights from the announcement include
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SEBI granted approval for PhonePe’s IPO on January 20.
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PhonePe is backed by Walmart, reinforcing investor confidence.
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IPO expected to support expansion of digital payments and financial services.
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Company aims to strengthen its ecosystem across insurance, lending, and wealth management.
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Listing anticipated to be among the largest fintech IPOs in India.
The SEBI approval positions PhonePe to enter capital markets at a time when India’s digital economy is witnessing rapid growth. The IPO is expected to attract strong investor interest, reflecting confidence in the company’s ability to drive innovation and scale in financial technology.
Sources: Reuters, Economic Times, Business Standard