Walmart-backed fintech company PhonePe is preparing to launch its IPO in April. The company plans to strengthen its position in India's digital payments market and expand into financial services and new consumer platforms. In its draft prospectus (DRHP), the company stated that digital payments will remain its primary source of growth. To fuel this expansion, the company plans to invest capital to grow its customer base, addressable market, and platform ecosystem.
Who will be selling their shares?
Citing industry estimates, the company said that the total addressable market for digital consumer payments in India was ₹301 lakh crore in FY2025, and is projected to grow to ₹602-681 lakh crore by FY2030.
According to sources, PhonePe aims to launch its IPO in April. It will be entirely an Offer for Sale (OFS), under which investor companies like Walmart, Microsoft, and Tiger Global will sell 5.06 crore shares.
SEBI approval received
This process will not involve any fresh issuance of new shares. The company received approval for the IPO from the Securities and Exchange Board of India (SEBI) in January. PhonePe is also expanding its financial services distribution business, such as lending and insurance.
To diversify its revenue streams, the company is also investing capital in new platforms such as its fund management platform 'Share.Market' and the indigenous app store 'Indus Appstore'. Currently, its Grey Market Premium (GMP) is zero.
Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
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