PhonePe, an Indian fintech firm backed by Walmart, has submitted draft documents to the capital markets regulator for a confidential initial public offering (IPO), according to a report. It is estimated the PhonePe IPO size at ₹12,000 crore, or $1.35 billion.
Key Highlights
- PhonePe files ₹12,000 crore IPO papers via confidential route, aiming for early 2026 listing.
- Walmart-backed PhonePe reports 40% revenue growth, narrows FY25 loss to ₹1,720 crore.
The confidential pre-filing route allows a company to keep information in its Draft Red Herring Prospectus (DRHP) private from the public at first. Furthermore, submitting a pre-filed DRHP does not obligate the company to proceed with its IPO.
PhonePe reports a narrower loss
Prior to the IPO filing, the company reported earlier this week that its losses decreased during the fiscal year 2024-25 (FY25). The company reported a net loss of ₹1,720 crore ($194.78 million), compared to a ₹1,996 crore loss in FY24.
Also Read: PhonePe Reports Rs 7,115 Cr Revenue and Rs 630 Cr PAT in FY25
Meanwhile, its revenue from operations increased by 40% to ₹7,115 crore during the same period.
PhonePe, one of India's most popular digital payment apps powered by the Unified Payments Interface (UPI), announced earlier this year that it plans to list on the Indian stock exchange.
According to the report, the platform has over 600 million registered users, 40 million merchants, and processes over 310 million online transactions per day. Furthermore, the company recently announced that it had received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
