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SAUMYA KHANDELWAL
The submission was private, blocking the release of documents until the agreement is complete.
A source with knowledge of the situation states that PhonePe intends to go public by the middle of next year. A funding round in 2023 assessed the company's worth at $12 billion.
Walmart Inc., a stakeholder in the company, revealed it has initiated measures for a potential listing in India. Walmart stated that the filing is just one significant milestone in the IPO process and does not guarantee that PhonePe will become publicly traded.
As per the source, the current investors of the Indian firm, which include Walmart, Microsoft Corp., and the venture capital fund Tiger Global, intend to divest a part of their stakes in the offering.
Moneycontrol projects the IPO may be valued around 120 billion Indian rupees ($1.35 billion).
Established in 2015, PhonePe caters to more than 40 million merchants. The platform boasts more than 600 million registered users.
source: reuters.com
A source with knowledge of the situation states that PhonePe intends to go public by the middle of next year. A funding round in 2023 assessed the company's worth at $12 billion.
Walmart Inc., a stakeholder in the company, revealed it has initiated measures for a potential listing in India. Walmart stated that the filing is just one significant milestone in the IPO process and does not guarantee that PhonePe will become publicly traded.
As per the source, the current investors of the Indian firm, which include Walmart, Microsoft Corp., and the venture capital fund Tiger Global, intend to divest a part of their stakes in the offering.
Moneycontrol projects the IPO may be valued around 120 billion Indian rupees ($1.35 billion).
Established in 2015, PhonePe caters to more than 40 million merchants. The platform boasts more than 600 million registered users.
source: reuters.com
