PhonePe Temporarily Defers IPO Amid Geopolitical Tensions and Market Volatility

PhonePe has temporarily deferred its planned initial public offering (IPO) in India due to ongoing geopolitical conflicts, particularly the US-Iran tensions, and resulting global market volatility. CEO Sameer Nigam expressed hope for a swift return to peace and reaffirmed the company's commitment to an IPO once market conditions stabilize. The Bengaluru-based fintech, with over 65 crore users and a large merchant network, had received regulatory approval and aimed to raise around $1.35 billion, potentially making it one of India's largest new economy listings.