PhonePe Moves Closer To IPO Dream, ₹1,200 Crore Issue Likely In Initial Offer

Mumbai: PhonePe, the fintech company backed by global retail giant Walmart, has taken a big step toward going public. According to Reuters, PhonePe has confidentially filed its draft papers for an Initial Public Offering (IPO) with SEBI (Securities and Exchange Board of India).

Reports suggest that the IPO could be worth around Rs 1,200 crore (approximately $1.35 billion). The company has used the confidential pre-filing route, which allows businesses to keep IPO details private until closer to the listing date.

What Is a Confidential IPO Filing?

This route lets companies file their Draft Red Herring Prospectus (DRHP) without revealing information publicly. It also gives them the flexibility to delay or cancel the IPO if market conditions are not favourable.

Losses Reduce, Revenue Grows Strongly

PhonePe recently released its financial results for the financial year ending 2025. The company reported a net loss of Rs 1,720 crore—down from Rs 1,996 crore the previous year.

Its revenue from operations saw a solid 40% jump, reaching Rs 7,115 crore. This shows that the company is steadily moving towards profitability.

60 Crore Users and 310 Million Daily Transactions

PhonePe is one of India’s most-used digital payment apps. The platform has over 600 million registered users, including more than 4 million merchants. On average, it processes 310 million transactions every day, making it a major player in the Indian digital payments space.

Earlier this year, PhonePe had announced its plans to go public and list on the Indian stock market.

RBI Green Light for Payment Aggregation

Adding to its credentials, PhonePe recently received approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This licence allows the company to process payments on behalf of other businesses, boosting its long-term growth prospects.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a licensed financial advisor before making any investment or IPO-related decisions.