PhonePe’s IPO: Ready to ‘Ring in’ a $15B Valuation with Top Banks!

Walmart-owned PhonePe, India's leading digital payments platform, is gearing up for a blockbuster IPO in FY26. The company has enlisted four heavyweight investment banks - Kotak Mahindra Capital, JP Morgan, Citi, and Morgan Stanley - to kickstart the process next week. PhonePe is eyeing a valuation of up to $15 billion, a significant jump from its $12 billion valuation in early 2023. The IPO is expected to be a combination of primary and secondary share issuances, with an issue size likely exceeding $1 billion. This move follows PhonePe's strong financial performance, with a 73% year-on-year revenue growth in FY24 and a market-leading 48% share in India's UPI transactions.

 

Source: Moneycontrol, News18, BWDisrupt