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PhonePe pre-IPO reset: Rs 3,937 Cr founders’ secondary; Rs 1,500 Cr hit from credit card rent, RMG exits

EntrackrEntrackr · 10d ago
PhonePe pre-IPO reset: Rs 3,937 Cr founders’ secondary; Rs 1,500 Cr hit from credit card rent, RMG exits
Medial

PhonePe pre-IPO reset: Rs 3,937 Cr founders’ secondary; Rs 1,500 Cr hit from credit card rent, RMG exits As PhonePe moves closer to its public listing, its updated draft red herring prospectus (DRHP) highlights how regulatory developments and shareholder liquidity events have reshaped the company’s revenue mix over the past year. The filing shows that PhonePe has witnessed secondary share transactions worth Rs 5,771 crore since 2023. A significant portion of this came in September 2025, when co-founders Sameer Nigam and Rahul Chari undertook a secondary sale worth Rs 3,937 crore, with shares bought by General Atlantic. The transaction offered partial liquidity to the founders ahead of the IPO. Alongside these shareholder exits, PhonePe has also exited certain payment categories following regulatory intervention. According to the DRHP, the company discontinued credit card payment services for rent and related categories in September 2025 after receiving regulatory communication from the Reserve Bank of India (RBI) under the payment aggregator framework. The impact of this move is visible in the numbers. Revenue from rent and related categories stood at Rs 518 crore in the six months ended September 2025, while the segment contributed Rs 1,262 crore in FY25. During FY25, rent-related payments accounted for 8.92% of PhonePe’s total gross margins. PhonePe has also exited revenue streams linked to real money gaming (RMG) following legislative changes. As per DRHP, the company ceased generating revenue from advertising and payment gateway services associated with RMG after the enactment of the Promotion and Regulation of Online Gaming Act, 2025 on August 22, 2025. Consequently, PhonePe’s financials from October 2025 onwards exclude any contribution from the segment. RMG revenue stood at Rs 70 crore in H1 FY26, while the segment contributed Rs 245 crore in FY25. With both rent-related payments and RMG now excluded from its business, PhonePe has effectively shut down revenue streams that together contributed Rs 1,512 crore in FY25. The exit of these categories is expected to have a bearing on the company’s near-term financial performance, even as it sharpens its focus on core UPI payments and financial services in the run-up to its IPO.

Voler Car Limited’s Rs 27 Cr SME IPO opens on February 12

EntrackrEntrackr · 11m ago
Voler Car Limited’s Rs 27 Cr SME IPO opens on February 12
Medial

Voler Car Limited is set to launch its SME initial public offering (IPO) on February 12, 2025, aiming to raise Rs 27 crore (approximately $3.2 million). According to the press release, the IPO comprises 30,00,000 shares with a face value of Rs 10 each, priced in the range of Rs 85-90 per share. The lot size for the IPO is 1,600 equity shares, requiring a minimum investment of Rs 1,44,000 for investors looking to participate. The SME IPO will be processed through the 100% book-building method. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment. GYR Capital Advisors Private Limited is the Book Running Lead Manager of Voler Car IPO, while KFin Technologies Limited is the registrar to the issue. The IPO will be open from February 12, 2025 to February 14, 2025. The issue proceeds will be utilized for funding working capital requirements, general corporate expenses, and IPO-related costs. Founded in 2010 by Pawan Parasrampuria and Vikas Parasrampuria, Voler Car specializes in providing employee transportation services for large MNCs, IT, and ITeS companies across major Indian cities. As per its investor memorandum, the company operates a fleet of over 2,500 vehicles, completing 425,000 trips annually across nine cities in India. During the first six months of the ongoing fiscal year (H1 FY25), Voler Car Limited registered an operating revenue of Rs 21.49 crore with a positive bottom line of Rs 2.48 crore. However, they recorded a revenue of Rs 30.89 crore with a profit of Rs 3.56 crore during the previous fiscal year (FY24).

Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report

EntrackrEntrackr · 9m ago
Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report
Medial

Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report Home furniture and sleep solutions company Wakefit has selected three investment banks to help with its plans to go public. According to a Moneycontrol report, the company has chosen Axis Capital, IIFL Capital Services, and Nomura to guide its initial public offering (IPO). Wakefit is expected to file draft papers for the IPO in the coming months. As per the report, the company aims to raise between Rs 1,500 crore and Rs 2,000 crore ($200 million). It has not yet decided how much will be raised through new shares and how much will be sold by current investors. So far, Wakefit has raised more than $100 million (around Rs 850 crore) from investors such as Peak XV Partners, Paramark Ventures from South Korea, and Verlinvest from Europe. Some of these early investors may sell their shares in the IPO. Wakefit started as a mattress company but later began selling other furniture like beds, tables, and chairs. As per TheKredible, Wakefit’s revenue from operations increased by 21% to Rs 986.4 crore in FY24, as compared to Rs 812.6 crore in the previous fiscal year. The firm managed to control its losses by 90% to Rs 15 crore from Rs 145 crore in FY23. Wakefit competes with companies like SleepyCat, Duroflex, Pepperfry, IKEA, and Woodenstreet in India’s furniture and sleep product market.

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