Why did the Enforcement Directorate issue summons to PhonePe?

The Enforcement Directorate issued summons to PhonePe to seek information and documents regarding transactions with Winzo Games and Tictok Skill Games, and concerning specific merchants, as part of a money laundering investigation.

Is PhonePe under investigation by the Enforcement Directorate?

PhonePe has stated that the summons were not for any investigation into the company, its directors, or key managerial personnel, but rather concerned third-party vendors associated with PhonePe.

When is PhonePe planning to launch its IPO?

PhonePe is set to launch its Initial Public Offering (IPO) in the next two to three months, having filed its updated draft red herring prospectus (UDRHP) in January 2026.

Home / Business and Economy / PhonePe Faces ED Summons Amid IPO Plans

PhonePe Faces ED Summons Amid IPO Plans

2 Feb

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Summary

PhonePe received multiple ED summons for transactions with Winzo Games.
Company clarifies summons are for third-party vendors, not PhonePe.
PhonePe is preparing to launch its IPO in the next two to three months.

Digital payments major PhonePe has been drawn into a money laundering investigation involving Winzo Games and other entities. The Enforcement Directorate (ED) issued multiple communications and summons to PhonePe in December 2025, seeking information on transactions with Winzo Games and Tictok Skill Games. PhonePe also received summons between June 2024 and April 2025 related to investigations on merchants Sutrulla Express and Dinero Payment Services.

In its updated draft red herring prospectus (UDRHP) filed with Sebi, PhonePe clarified that these queries pertained to third-party vendors and not the company, its subsidiaries, promoters, or key managerial personnel. PhonePe stated it does not foresee any implications for the company. A spokesperson reiterated that the summons were not for any investigation into PhonePe's internal operations or personnel, emphasizing its limited role as a third-party information provider.