23 FEB, 2025: PhonePe Gears Up for IPO Amid India’s Thriving Fintech Boom
In a major move towards market expansion, Walmart-owned fintech giant PhonePe has announced its plans for an initial public offering (IPO) in India. The digital payments leader is joining a wave of tech startups leveraging the booming Indian IPO market to fuel their next phase of growth.
PhonePe, which competes with Paytm and Google Pay, has seen a meteoric rise in India’s digital payments ecosystem. The company, valued at $12 billion, processes over 300 million daily transactions and recently reported a total payment value (TPV) of ₹1.7 trillion as of January. The IPO preparations are still in their early stages, but Walmart CEO Doug McMillon expressed confidence in the move, stating, “Our PhonePe team has long aspired to be a public company, and we are excited to be taking these early steps.”
Since its separation from Flipkart and redomiciling to India in 2022, PhonePe has streamlined its corporate structure to bolster its expansion. With strong financial performance and a diverse business portfolio, the timing seems ripe for its market debut.
As India’s IPO market heats up, PhonePe will be competing with a host of startups, including Zepto, Groww, and Pine Labs, all gearing up for their stock market debut this year.
Sahil Aggarwal
Views Today (Editor-in-Chief)
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