PhonePe's $15 Billion IPO Ambition: Fintech Giant Selects Top Banks for Landmark Listing

India's top digital payment platform PhonePe is planning its much-awaited IPO next week at a valuation of as much as $15 billion. The fintech firm backed by Walmart has hired four bookrunners, including Kotak Mahindra Capital, JP Morgan, Citi, and Morgan Stanley, to advise the issue. PhonePe will go ahead with initiating the IPO procedure in early March with both primary and secondary offer of shares. The issuance, due FY26, can be over $1 billion in size. It comes after the financial performance by PhonePe that has seen the FY24 revenues jump 74% to ₹5,064 crore and also narrow the net loss to ₹1,996 crore.

 

Sources: Moneycontrol, News18, Upstox,