PhonePe IPO: What to know about the digital payment giant
PhonePe just got SEBI's green light for its IPO, but here's the twist—it's an Offer For Sale by big names like Walmart, Tiger Global, and Microsoft, so no new money is coming in.
The company plans to file updated documents soon.
How big is PhonePe?
PhonePe owns over 45% of India's UPI market and handled a massive 9.8 billion transactions in December 2025 alone.
In FY24-25 (year ended March 2025), revenue was ₹7,115 crore and it generated ₹1,202 crore in operating cash flow—showing it's not just growing fast but also making real money.
What else does PhonePe do?
Beyond payments, PhonePe has branched out into credit, insurance broking, and wealth management.
No IPO timing specified in the source / timing unconfirmed; it has a $12 billion valuation and may include an offer-for-sale by existing shareholders of up to about 10% of aggregate stakes.
Who else is going public?
The source does not list other companies or claim a 2026 IPO lineup