PhonePe’s move to IPO with a $15B valuation underscores its ambition in India’s booming fintech space
PhonePe, one of India’s leading fintech firms backed by Walmart, has officially filed its Draft Red Herring Prospectus (DRHP) with SEBI as it eyes a $1.5 billion IPO. The company is targeting a valuation of approximately $15 billion, positioning itself among the top fintech names in the country. (Times of India)
In its latest financials, PhonePe reported narrowing its net losses in FY25 to ₹1,727 crore, down from ₹1,996 crore the previous year. Operating revenue rose by 40%, reaching ₹7,114.8 crore, up from ₹5,064 crore. The company has also diversified beyond payments into credit, insurance, and wealth management through its subsidiaries.
A recent milestone: PhonePe secured a payment aggregator licence from the Reserve Bank of India, allowing it to offer merchant payment services online—a key piece in its strategy to deepen its fintech footprint.
This IPO move comes at a time when Indian fintechs are gaining global attention. If successful, PhonePe will join the ranks of high-profile public listings, offering investors access to India’s rapidly growing digital transactions market.
Sources
- Times of India – PhonePe plans $1.5 billion IPO: Walmart-backed fintech eyes $15 billion valuation; files DRHP with SEBI
- Additional industry commentary on fintech IPOs and digital payments sectors
