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PhonePe Eyes $10.5 Billion Valuation for Upcoming IPO

StartupTalky

StartupTalky · 26d ago

PhonePe Eyes $10.5 Billion Valuation for Upcoming IPO

PhonePe plans to launch an IPO next month, targeting a $10.5 billion valuation. This offer-for-sale IPO aims to raise between $900 million and $1.5 billion. Major shareholder Walmart will reduce its stake by 12%, selling 5.06 crore shares, while investors like Microsoft and Tiger Global exit the company. Despite a 22% revenue increase, PhonePe’s deficit grew, emphasizing the need for diversification beyond UPI payments. The IPO could strengthen PhonePe’s market position in fintech.

Related News

PhonePe hits pause on IPO as US-Iran war shakes markets; CEO says ‘We hope for a swift return to peace’

IndianStartupNews

IndianStartupNews · 15d ago

PhonePe hits pause on IPO as US-Iran war shakes markets; CEO says ‘We hope for a swift return to peace’

PhonePe has postponed its planned initial public offering (IPO) in India due to market volatility triggered by the US-Iran conflict. CEO Sameer Nigam expressed hope for a swift return to peace and affirmed the firm's commitment to a future listing in India. The company aims for a valuation of $9-$10.5 billion, down from a previous $12 billion. Despite the IPO delay, PhonePe remains the dominant player in India’s UPI ecosystem with a 48% market share.

Walmart-backed PhonePe targets up to $10.5 billion valuation in India IPO - The Economic Times

Economic Times

Economic Times · 27d ago

Walmart-backed PhonePe targets up to $10.5 billion valuation in India IPO - The Economic Times

PhonePe, backed by Walmart, plans an IPO with a valuation between $9 billion and $10.5 billion, aiming to raise $900 million to $1.05 billion. Walmart will reduce its stake, while Tiger Global and Microsoft plan to exit. The offer will involve 50.7 million shares, with no new shares issued. Despite having 650 million users, monetization remains uncertain, with low growth in active users and a competitive Indian fintech market.

EV-maker Ather Energy eyes $2.4 billion valuation for upcoming IPO

Inshorts · 1y ago

EV-maker Ather Energy eyes $2.4 billion valuation for upcoming IPO

Electric vehicle (EV) maker Ather Energy is aiming for $2.4 billion valuation for its upcoming initial public offering (IPO) this year. The valuation would be over 80% jump from its last funding round in August, when it became a unicorn with $1.3 billion valuation. It had raised $71 million from existing investor National Investment and Infrastructure Fund (NIIF) in it.

India’s UPI payments giant PhonePe gets SEBI nod for IPO, eyes $15 billion valuation

IndianStartupNews

IndianStartupNews · 2m ago

India’s UPI payments giant PhonePe gets SEBI nod for IPO, eyes $15 billion valuation

PhonePe, India’s prominent UPI payments platform, has received SEBI approval for its IPO, eyeing a valuation of $15 billion. The company aims to raise about Rs 12,000 crore ($1.32 billion) through the public offering, with the issue likely to be structured mostly as an offer for sale. Founded in 2015, PhonePe has become India’s biggest digital payments platform, boasting 43.5 crore users and processing nearly half of all Bharat Bill Payment System transactions.

PhonePe puts IPO on hold as Iran–Israel–US war rattles public markets

Entrackr

Entrackr · 15d ago

PhonePe puts IPO on hold as Iran–Israel–US war rattles public markets

PhonePe puts IPO on hold as Iran–Israel–US war rattles public markets Digital payments platform PhonePe has temporarily paused its initial public offering (IPO) plans due to ongoing geopolitical tensions and volatility in global financial markets. In a press statement on Monday, the company said it has deferred its public market listing process and will resume the IPO once stability returns to global capital markets. PhonePe’s IPO delay comes amid tensions involving Iran, the US, and Israel, which have increased volatility in global markets and affected investor sentiment, prompting several IPO-bound companies to delay their listings. PhonePe CEO Sameer Nigam said the company remains committed to going public in India despite the temporary pause. He also expressed hope for a quick resolution to the ongoing Iran–Israel–US conflict. Founded in 2016, PhonePe is one of India’s largest digital payments platforms, with over 650 million registered users and a merchant network of more than 47 million. In February, it led UPI among third-party apps with 9.28 billion transactions worth Rs 13,10,392.95 crore, holding a 45.5% share by volume and 48.8% by value. Earlier this year in January, PhonePe filed its updated DRHP with Securities and Exchange Board of India (SEBI) to raise around Rs 12,000 crore (approximately $1.5 billion) through an IPO. According to multiple media reports, the company was targeting a valuation of around $10.5 billion. Notably, in October last year, General Atlantic invested $600 million in PhonePe at a valuation of roughly $14.5 billion. The decision to hold the IPO comes amid heightened market volatility, which could potentially impact the company’s valuation. PhonePe’s largest shareholder Walmart may prefer to avoid listing under uncertain market conditions that could compress its valuation. While PhonePe may be a relatively small bet for Walmart, the company’s valuation remains crucial for the fintech firm, making the timing of its public market debut an important factor.

RBI Fines IPO-Bound PhonePe For Flouting PPI Norms

Inc42 · 6m ago

RBI Fines IPO-Bound PhonePe For Flouting PPI Norms

The Reserve Bank of India (RBI) has fined IPO-bound PhonePe Limited INR 21 Lakh for violating Prepaid Payment Instruments (PPI) norms. Additionally, the fintech firm has surrendered its NBFC license as of August 29, following the earlier surrender of its NBFC-AA license. PhonePe plans to pre-file its IPO papers soon, seeking to raise $1.2 billion to $1.5 billion at a valuation between $7 billion and $8 billion.

Meesho eyes $6 billion valuation with December IPO

Economic Times

Economic Times · 4m ago

Meesho eyes $6 billion valuation with December IPO

Meesho Ltd., backed by SoftBank Group Corp., plans to launch its IPO in December, aiming for a $6 billion valuation. The company is negotiating with SBI Funds for a pre-IPO placement, potentially impacting the IPO size, estimated at 60 billion rupees. The IPO will include a fresh share issue worth 42.5 billion rupees and 175.7 million existing shares. Meesho, popular in smaller Indian cities, anticipates joining India's robust IPO market.

Ola Electric faces pushback on valuation; Pine Labs eyes $1-bn IPO

VCCircle

VCCircle · 1y ago

Ola Electric faces pushback on valuation; Pine Labs eyes $1-bn IPO

Ola Electric is facing opposition from investors on its targeted valuation for its IPO. The company's founder is aiming for a valuation of up to $7 billion, but initial feedback suggests that investors believe it is too high. Meanwhile, Pine Labs is planning to raise $1 billion through an IPO.

PhonePe hires JPMorgan Chase, Citigroup, Morgan Stanley and Kotak as IPO bankers: Report

IndianStartupNews

IndianStartupNews · 9m ago

PhonePe hires JPMorgan Chase, Citigroup, Morgan Stanley and Kotak as IPO bankers: Report

PhonePe, India's leading digital payments platform, is preparing for its IPO, targeting a $1.5 billion raise which could elevate its valuation to $15 billion. To arrange the offering, PhonePe has hired four global investment banks: Kotak Mahindra Capital, JPMorgan Chase, Citigroup, and Morgan Stanley. Having restructured into a public limited company in April 2025, PhonePe plans to file its draft red herring prospectus by August, with the listing expected later this year.

SoftBank eyes Lenskart and Meesho IPOs to revive Vision Fund 2

YourStory

YourStory · 7m ago

SoftBank eyes Lenskart and Meesho IPOs to revive Vision Fund 2

SoftBank is banking on its Indian startup investments, particularly Lenskart and Meesho, to rejuvenate Vision Fund 2 (SVF2) amid ongoing losses. The Indian portfolio includes 15 private investments valued at $4.1 billion, with Lenskart and Meesho poised for upcoming IPOs. This move aligns with SoftBank's broader strategy to unlock value in SVF2, leveraging valuation gains and an AI-focused strategy. Despite being cautious in India recently, the company sees a strong IPO pipeline.

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