Walmart-owned fintech unicorn filed draft papers with for its through the confidential pre-filing route, with plans to raise ₹10,000–12,000 crore via a pure offer for sale (OFS), according to people aware of the matter.
Shareholders including , Tiger Global and are expected to participate in the OFS, which will see a combined stake dilution of around 10%, the people added, requesting anonymity.
“PhonePe Limited has filed the Pre-filed Draft Red Herring Prospectus with SEBI and the Stock Exchanges, under Chapter IIA of the SEBI ICDR Regulations in relation to the proposed initial public offering of its equity shares on the main board of the Stock Exchanges (“Offer”). We will not be making any further comments at this stage in connection with the Offer,” said PhonePe spokesperson.
businessline had reported that PhonePe will be taking the confidential route for filing the IPO by September end. The firm had picked 4 investment banks, Kotak Mahindra Capital, Citi, Morgan Stanley, and JP Morgan, as advisors for a big-bang IPO and was targeting a listing valuation of up to $15 billion.
PhonePe reported a 40 per cent growth in revenue at ₹7,115 crore in FY25 by diversifying its offerings for consumers and merchants.
The company also recorded positive Adjusted EBIT (excluding ESOP costs) for the first time at ₹117 crore.
The Walmart-backed fintech continued to improve its bottom line, with Adjusted EBITDA (excluding ESOP costs) more than doubling to ₹1,477 crore from ₹652 crore in the prior year, and Adjusted PAT (excluding ESOP costs) more than tripling to ₹630 crore from ₹197 crore in the prior year.
On September 19, PhonePe announced it had received final authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator, allowing it to expand its presence among online merchants, particularly small and medium businesses.
The company recently said it has more than 650 million registered users and a merchant network spanning 45 million outlets. It processes over 360 million transactions daily, with an annualised total payment value (TPV) of more than ₹150 lakh crore.