What is the latest update on PhonePe's IPO approval?

PhonePe has received approval from Sebi to proceed with its IPO, clearing a major regulatory hurdle.

How much does PhonePe plan to raise through its IPO?

PhonePe is targeting to raise approximately $1.5 billion through its Initial Public Offering.

What is PhonePe's current valuation?

PhonePe's last reported valuation stands at $14.5 billion.

Home / Business and Economy / PhonePe Secures IPO Approval: India's Fintech Giant Set for Major Listing

PhonePe Secures IPO Approval: India's Fintech Giant Set for Major Listing

20 Jan

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Summary

PhonePe received Sebi approval for its initial public offering.
The fintech startup plans a $1.5 billion offer for sale.
Its valuation stands at $14.5 billion following a recent funding round.

PhonePe Secures IPO Approval: India's Fintech Giant Set for Major Listing

PhonePe, a prominent digital payments platform in India and backed by Walmart, has secured approval from the Securities and Exchange Board of India (Sebi) to proceed with its Initial Public Offering (IPO). This regulatory clearance removes a significant hurdle for what is anticipated to be one of the most substantial fintech listings within the Indian market.

The company is reportedly targeting to raise around $1.5 billion through its public offering. This issuance will be structured as a complete offer for sale, involving share divestments from major investors including Walmart, Tiger Global, and Microsoft.