PhonePe, a digital payments firm based in Bengaluru and owned by Walmart, has confidentially filed draft documents for an IPO with Indian regulators and exchanges.

The company submitted a pre-filed Draft Red Herring Prospectus to the Securities and Exchange Board of India, BSE, and NSE, which allows it to seek regulatory feedback before public disclosure of financial details.

PhonePe is reportedly aiming to raise about 12,000 crore rupee (US$1.35 billion) by offering shares from existing investors, including Walmart, Tiger Global, and Microsoft, who are expected to sell around 10% of the company, according to Moneycontrol.

For the year ended March 2025, PhonePe’s revenue from operations rose 40.5% to 7,114.9 crore rupee (US$8.23 billion), while net losses narrowed to 1,727.4 crore rupee (US$1.99 billion).

🔗 Source: YourStory

Recent PhonePe developments