PhonePe becomes public entity, targets $15 billion valuation ahead of IPO

Fintere Major Phonepe, a famous player in Digital Payments, has officially become a publicly progress, noting a decisive progress over its expected prior public proposal (IPO). This transformation, which was signed on April 16 after the special general meeting, graduated from the Ministry of Corporate Affairs. The company aims to provide up to $ 15 billion, emphasizing its drive to expand and strengthen its position in the Indian Burgeon Market. With the support of Walmart, Phonepe has included Kotak Mahindra, JP Morgan, Citi, Morgan Stanley as IPO consultants.

This strategic shift is part of a comprehensive corporate reconstruction of phonepe, which company has taken to transport its settlement from Singapore to India, which includes full-property subsidiaries, its full-owned subsidiaries. Reorganization reflects to improve the efficiency of the phone and ensure compliance with its main market in India.

On February 20, the Digital Payment Platform belonging to Walmart announced that preliminary steps take a possible IPO. Later, on February 25, the news reports found that the phone number has been appointed Kotak Mahindra capital, JP Morgan, Citi, Morgan Stanley, with an IPO consultants to assess about $ 15 billion.

On April 16, the company approved the change of “Phonepe Limited” during the Extraordinary General Assembly, according to the document submitted to ROC.

In December 2022, the phone transformed its headquarters from Singapore to India, creating a clear corporate structure with its new non-payment businesses as full-owned subsidiaries. About $ 12 billion is estimated at the recent private fundraising, Bengaluru is currently ordering about 48% of India’s joint market market (UPI).

When the company reads its IPO, its dominant market share is the main component of its assessment strategy. The presence of phonepe’s stable market highlights its key role in India’s rapidly developing Fintech Landscape, where digital payments continue to grow rapidly.

In the 2024 fiscal year, the phone number announced an annual income annual increase, a total of 5,064 bears. During the year, his profit after taxes amounted to the loss of loss of 197 RS RS RS Rs 738 RS 738 last year.