PhonePe Gears Up for a Billion-Dollar IPO: Strong Growth & Big Plans Ahead!
Walmart-owned PhonePe has appointed Kotak Mahindra Capital, JP Morgan, Citi, and Morgan Stanley as advisors for its IPO. The company, which holds a 48% share in India’s UPI market, is targeting a valuation of up to $15 billion.
The IPO process is expected to start in March 2025, with a listing planned for FY26. The offering will include both primary (new shares) and secondary (existing shares) issuances, with an estimated issue size of over $1 billion. More advisors may be added as needed.
Financial Performance of PhonePe
In early 2023, PhonePe had a valuation of $12 billion and raised over ₹18,000 crore from investors like Microsoft, General Atlantic, and Tiger Global.
The company reported a 73% revenue growth in FY24, reaching ₹5,064 crore. It also posted a profit of ₹197 crore, reversing a previous loss of ₹738 crore. CEO Sameer Nigam had stated that PhonePe would go public only after sustained profitability, making this an ideal time for its IPO.
PhonePe IPO Investment Banks
PhonePe has appointed Kotak Mahindra Capital, JP Morgan, Citigroup, and Morgan Stanley as lead investment banks for its IPO. The company is aiming for a valuation of up to $15 billion.
PhonePe IPO News
PhonePe has started preparing for its IPO on Indian stock exchanges, expected in late 2025. The company reported strong revenue growth and profitability in fiscal year 2024.
PhonePe IPO Size
The IPO is expected to raise over $1 billion through a mix of fresh stock issuance and an Offer for Sale (OFS). The target valuation is up to $15 billion.
PhonePe IPO Launch Date
The exact launch date has not been officially announced. However, the company has begun preparatory steps, and the IPO is expected in 2025.
PhonePe IPO GMP
There is no available Grey Market Premium (GMP) information yet, as the IPO launch date has not been confirmed.
PhonePe IPO Date
The IPO date is yet to be disclosed. PhonePe is currently in the preparatory phase and is expected to list in 2025.
PhonePe IPO Details
Founded in 2016, PhonePe is India’s leading digital payments platform, with 590 million users and a 48.4% share in UPI payments. It achieved profitability in fiscal year 2024 with ₹50 billion in revenue.
PhonePe IPO Advisors
Apart from investment banks, PhonePe plans to onboard additional financial advisors to ensure a smooth and successful public offering.
