PhonePe Preps for Major IPO Amid Strong Growth Journey
PhonePe, a leading fintech firm, plans an IPO aiming for a valuation of USD 9-10.5 billion. The IPO, a secondary sale for existing shareholders like Walmart and Microsoft, seeks to raise USD 1.05 billion. Despite a lower valuation than previous funding, revenue and diversification drive growth.
- Country:
- India
Country's leading fintech company, PhonePe, is gearing up for an Initial Public Offering (IPO) with a targeted valuation between USD 9 billion and USD 10.5 billion, as it looks to collect approximately USD 1.05 billion through equity sales.
Sources indicate that despite this lower valuation compared to its last funding round, wherein it was valued at USD 12 billion, PhonePe's IPO remains one of the significant public issues, just trailing Paytm's USD 20 billion IPO in 2021.
The IPO, entirely an Offer-for-Sale, will allow key shareholders such as Walmart and Microsoft to divest stakes worth around Rs 10,115 crore. Meanwhile, PhonePe's impressive revenue growth and profitability improvements are highlighted, with diverse offerings such as lending and insurance distribution driving growth.
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