PhonePe: Investors, get ready, 'PhonePe' IPO is coming soon

 

 

PhonePe IPO: India's largest fintech company PhonePe is planning to get listed on the Indian stock market. For this, the company has also started preparing for its potential IPO. The company has recently given information about this. PhonePe said in a statement, "The company is taking initial steps towards its potential IPO and is planning to list on the Indian stock market." In this statement, the company said, “As PhonePe celebrates its 10th anniversary this year, it is a significant moment for the company.

 

The company has made progress in serving millions of customers with innovative financial services and technology solutions. PhonePe relocated from Singapore to India in December 2022. For this, they had to pay taxes of about Rs 8,000 crore to the government. The PhonePe digital payment app was launched in August 2016. As of January 2025, the company has a digital payment network of over 59 crore registered users and over 4 crore merchants. Over 31 crore transactions are processed daily through PhonePe, with an annual total payment value (TPV) of over Rs 145 lakh crore. 

 

 

PhonePe tops the list of major UPI apps in India. In India, most people using UPI use PhonePe. The number of PhonePe users is much higher than Google Pay and Paytm. As of November 2024, PhonePe was the largest UPI payment company in the country with 47.8 percent of users. While Google Pay was the second largest fintech company in the country with a market share of 37 percent. Leading US retail store company Walmart has the largest stake in PhonePe. The company had said in its 2024 annual report that various leading investors in the world have invested Rs 18,000 crore in PhonePe. 

 

 

As of March 31, 2024, Walmart's Luxembourg-based company, FIT Holdings SARL, owned 83.91 percent of PhonePe. General Atlantic Singapore owned 5.14 percent and PhonePe's Singapore-based subsidiary owned 6.7 percent of the company.