PhonePe IPO: Walmart-Backed Digital Payments Platform Begins IPO Process To List on Indian Exchanges
PhonePe is reportedly preparing for an IPO to list on Indian stock exchanges. PhonePe will become the third fintech company to list on the stock exchanges following the IPOs of Paytm and MobiKwik.
New Delhi, February 20: PhonePe is reportedly preparing to list on Indian stock exchanges by initiating the process for an initial public offering (IPO). PhonePe relocated from Singapore to India in December 2022. The company announced that it had created a clear corporate structure, with each of its new non-payment businesses operating as fully owned subsidiaries. This year, PhonePe will celebrate its 10th anniversary and has expanded significantly, which now provides hundreds of millions of customers with its innovative financial services and technology solutions.슬롯 머신 사이트 추천LG Electronics India IPO: After Hyundai Motor IPO, South Korean Consumer Appliance Company Set for Potential INR 15,000 Crore Mega Public Offering.
As per reports, on February 20, Walmart-backed PhonePe announced that it is starting preparatory steps for a potential IPO to list on Indian exchanges. According to multiple reports, PhonePe is the largest digital payments provider in India, holding nearly 48% of the market share in the Unified Payments Interface (UPI) managed by the National Payments Corporation of India (NPCI). Google Pay follows as the second-largest player, with approximately 37% of the market share.
PhonePe is set to become the third fintech company to list on the stock exchanges in the past five years, following the IPOs of Paytm and MobiKwik. PhonePe founder Sameer Nigam had previously stated that the company would not proceed from pursuing an IPO until there was clarity regarding the market share cap. Nigam had previously stated that the company would pursue a public listing only if PhonePe could report a sustainable net profit over a period of time.슬롯 머신 사이트 추천Quality Power IPO, Shanmuga Hospital IPO, LK Mehta Polymers IPO - All About Upcoming IPOs in February 2025.
The company reportedly stated that PhonePe's growth across its diverse business portfolio, as outlined in its FY23-24 annual report, makes it an appropriate time to start preparing for a public listing. According to reports, in FY24, the company achieved a 73% year-on-year increase in revenue at INR 5,064 crore with cost efficiency and product diversification. Additionally, the PhonePe Group reported an adjusted Profit After Tax (PAT) of INR 197 crore from a loss of INR 738 crore in the previous year.
(The above story first appeared on LatestLY on Feb 20, 2025 07:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).