Digital payments major PhonePe filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India late Tuesday night, taking the confidential route.
Responding to ET’s queries, the company confirmed the development and said the filings have happened as per the Sebi (Issue of Capital and Disclosure Requirements) Regulations, 2018.
PhonePe joins another Bengaluru-based fintech startup, Groww, on the IPO bandwagon. The latter filed its updated prospectus with the stock market regulator on September 16.
PhonePe is looking for a $1.5 billion IPO, which will value the Walmart-backed payments major at around $15 billion, according to people in the know.
ET reported on September 22, that PhonePe narrowed its net loss in FY25 to Rs 1,727 crore from Rs 1,996 crore in FY2024. The fintech company's operating revenue shot up 40% to Rs 7,114.8 crore, from Rs 5,064 crore the previous year.
While payments comprise the core of PhonePe’s business, the company has also ventured into credit, insurance and wealth management through multiple subsidiary entities. Earlier this month PhonePe also secured a payment aggregator licence from the Reserve Bank, to offer online merchant payment services.
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Responding to ET’s queries, the company confirmed the development and said the filings have happened as per the Sebi (Issue of Capital and Disclosure Requirements) Regulations, 2018.
PhonePe joins another Bengaluru-based fintech startup, Groww, on the IPO bandwagon. The latter filed its updated prospectus with the stock market regulator on September 16.
PhonePe is looking for a $1.5 billion IPO, which will value the Walmart-backed payments major at around $15 billion, according to people in the know.
ET reported on September 22, that PhonePe narrowed its net loss in FY25 to Rs 1,727 crore from Rs 1,996 crore in FY2024. The fintech company's operating revenue shot up 40% to Rs 7,114.8 crore, from Rs 5,064 crore the previous year.
While payments comprise the core of PhonePe’s business, the company has also ventured into credit, insurance and wealth management through multiple subsidiary entities. Earlier this month PhonePe also secured a payment aggregator licence from the Reserve Bank, to offer online merchant payment services.
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