PhonePe Kicks Off IPO Preparations for Indian Stock Exchange Debut

Walmart-backed fintech giant PhonePe has officially begun preparations for its initial public offering (IPO) on Indian stock exchanges. The company, which will celebrate its 10th anniversary this year, announced the move as a significant milestone. PhonePe cited its strong top-line and bottom-line growth across its diverse business portfolio as making this an opportune time to prepare for a public listing. The digital payments leader, with over 590 million registered users and a 47.67% market share in UPI transactions, redomiciled from Singapore to India in December 2022. While specific details about the IPO size, valuation, and timeline remain undisclosed, the announcement marks a crucial step in PhonePe's journey towards becoming a publicly traded company.

 

Source: PhonePe official statement