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PhonePe Becomes Public: Countdown Starts to IPO After Fintech Behemoth Set on $15 Billion Valuation

Updated: April 19, 2025 09:10

Image Source: Upstox
India's premier digital payment platform PhonePe has legally rechristened as a public limited company—the turning point on the road to its much-hyped IPO. In an Extraordinary General Meeting, held on April 16, the board unanimously adopted the decision to rename it to "PhonePe Limited", subject to confirmation by regulators—unlocking doors for an impending stock market launch.
 
Main Highlights
  • IPO Momentum: The conversion is a statutory requirement for listing. PhonePe is gunning for a blockbuster IPO in 2025 with a valuation of $15 billion and has hired the best investment banks such as Kotak Mahindra Capital, JP Morgan, Citi, and Morgan Stanley.
  • Market Leadership: With an industry-leading 48% share of India's UPI transaction volumes, PhonePe is the nation's digital payments leader.
  • Financial Performance: FY24 witnessed revenues jump 73% to ₹5,064 crore and net profit reach ₹197 crore, reversing the losses of the previous year.
  • Strategic Initiatives: Supported by Walmart, PhonePe changed its domicile to India in 2022, positioning its structure for regulatory compliance and future growth.
PhonePe's public company status paves the way for one of India's most highly anticipated tech IPOs.
 
Sources: CNBC-TV18, The Financial Express, Entrackr

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