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

IndianStartupNews

IndianStartupNews · 7m 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.

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PhonePe To File Draft Papers For $1.5 Bn IPO By August

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PhonePe, Walmart-owned fintech, is set to file draft IPO papers by August 2023, aiming to raise $1.5 billion, valuing the company at $15 billion. The company has appointed Kotak Mahindra, Citigroup, and Morgan Stanley to lead the process. Known for its dominance in the Unified Payments Interface (UPI) sector, PhonePe made its listing intentions public earlier in February, with further details about the IPO size or timeline now revealed.

US banks scramble to assess data theft after hackers breach financial tech firm | TechCrunch

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Livemint

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Economic Times

Economic Times · 9m ago

Urban Company secures shareholder nod for IPO, to raise Rs 528 crore in fresh capital

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KuKu FM plans to launch IPO to raise $200 million, appoints Morgan Stanley, Kotak, Axis Bank: Report

IndianStartupNews

IndianStartupNews · 1m ago

KuKu FM plans to launch IPO to raise $200 million, appoints Morgan Stanley, Kotak, Axis Bank: Report

Mebigo Labs Pvt. Ltd., the operator of audio content platform Kuku FM, plans to launch an IPO to raise up to $200 million, aiming to expand its content library and regional-language offerings. The Mumbai-based startup appointed Kotak Mahindra Capital, Axis Bank, and Morgan Stanley as bankers for the proposed IPO. Founded in 2018, Kuku FM offers audiobooks and stories in multiple languages, boasting over 10 million subscribers. Key IPO details are still being finalized.

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Economic Times

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Prosus-owned PayU targets India IPO filing in February, hires bankers

Payment gateway provider PayU, owned by South African conglomerate Prosus, is planning to file for an IPO worth at least $500 million in India. PayU offers various services including buy-now-pay-later and competes with Razorpay and PhonePe. The company has appointed Goldman Sachs, Morgan Stanley, and Bank of America as advisors for the IPO, which is expected to value PayU at between $5 billion and $7 billion. The IPO is planned to be listed by the end of 2024.

Lenskart to hire Kotak Mahindra, Morgan Stanley for $1-billion IPO: Report

Inshorts · 11m ago

Lenskart to hire Kotak Mahindra, Morgan Stanley for $1-billion IPO: Report

Lenskart is said to be hiring arrangers like Kotak Mahindra Bank and Morgan Stanley for its $1 billion IPO this year, according to a Bloomberg report. The SoftBank-backed eyewear firm may seek a valuation of about $8 billion and other banks may also join to work on the IPO, the report added. Lenskart reported ₹5,427 crore revenue in FY24.

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TPG-backed Fractal Analytics revives IPO plans; Lilavati Hospital to tap PEs

US-based AI and analytics solutions provider, Fractal Analytics, is reportedly reviving plans for an initial public offering (IPO) in India. The company aims to raise over $500 million and is targeting a valuation between $3 billion and $3.5 billion. Fractal Analytics has appointed Kotak Mahindra Bank and Morgan Stanley as advisors for the IPO.

Microsoft CEO Satya Nadella-backed Groww to file for $800 million IPO

Economic Times

Economic Times · 4m ago

Microsoft CEO Satya Nadella-backed Groww to file for $800 million IPO

Billionbrains Garage Ventures, the parent company of Groww, is preparing to file for an $800 million IPO in Mumbai, with a valuation of up to $8 billion. Backed by Microsoft CEO Satya Nadella, Groww aims to become India’s largest brokerage by market value, surpassing Angel One Ltd. The IPO, advised by JPMorgan, Kotak Mahindra, Citigroup, and Axis Bank, may adjust its size based on regulatory approvals for public float.

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