PhonePe IPO: Country The lead Fintech company PhonePe has intensified the process of bringing IPOs. Online payment platform is preparing to file initial documents (DRHP) near SEBI. American retail chain Walmart’s investing digital payment company PhonePe can bring an IPO of $ 1.5 billion. The company may submit documents for the IPO to SEBI in early August. After IPO, PhonePe’s value will be around $ 15 billion. People who know the case have shared information related to PhonePe’s IPO with Bloomberg.
The company’s value was reduced to $ 12 billion after raising funds in 2023
According to the report, PhonePe has contacted Kotak Mahindra Capital Company, JP Morgan Chase & Company, Citigroup Inc. and Morgan Stanley to manage their IPOs. Experts say that discussions about PhonePe’s IPO are still going on, and there may be changes in the company’s planning. According to the company, it raised a big fund of $ 100 million from Rebit Capital, Tiger Global Management and TVS Capital Funds in 2023. After that funding in 2023, the value of the company was about $ 12 billion.
PhonePe is the first choice for UPI transaction in India
Phonpe, established in the year 2015, says that it has more than 61 crore registrar users. The company claims that there is a transaction of about Rs 34 crore daily through its platform. Let us tell you that PhonePe is most commonly used for UPI transactions in India. About half of the total UPI transactions in India are only through phonpes. Google is second in terms of UPI transaction. PhonePe and Google Pay jointly have about 80 percent market share in terms of UPI transaction. While Paytm is in third place.
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