When did Tiger Global and Microsoft fully exit PhonePe?

Tiger Global and Microsoft are fully exiting their stakes in PhonePe as part of the company's upcoming IPO.

What is PhonePe's IPO valuation target?

PhonePe is targeting a market capitalization of around $15 billion for its IPO.

How many transactions did PhonePe process in December 2025?

In December 2025, PhonePe processed approximately 9.81 billion transactions.

Home / Business and Economy / PhonePe IPO: Investors Cash Out Big

PhonePe IPO: Investors Cash Out Big

22 Jan

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Summary

Tiger Global and Microsoft fully exit PhonePe IPO.
PhonePe targets $15 billion valuation in IPO.
December 2025 saw 9.81 billion transactions processed.

PhonePe, the Walmart-backed Indian payments startup, has updated its IPO filing, signaling a major liquidity event for its investors. Tiger Global and Microsoft are set to fully divest their stakes in the company. Walmart, however, intends to maintain its majority share while selling up to 9% of the company.

PhonePe, founded in 2015, has grown into a dominant force in India's fintech landscape. Originally focused on digital payments, it has expanded into stockbroking, mutual funds, and even an app store. The company leads India's digital payments market in transaction volumes, significantly outpacing competitors like Google Pay.