PhonePe Receives SEBI Approval for IPO with Offer For Sale by Existing Shareholders

PhonePe, India's leading digital payments platform with over 45% UPI market share and 600 million users, has received SEBI approval for its IPO. The offering will be an Offer For Sale by existing shareholders, including Walmart, Microsoft, and Tiger Global, without raising new capital. The company reported Rs 7,115 crore revenue for FY24-25 with a 40% growth and narrowed losses. The IPO, valued around $15 billion, is among India's largest fintech listings and reflects strong investor interest amid buoyant markets.