{"id":418121,"date":"2025-06-24T12:09:18","date_gmt":"2025-06-24T06:39:18","guid":{"rendered":"https:\/\/zerodha.com\/z-connect\/?p=418121"},"modified":"2025-06-24T14:26:18","modified_gmt":"2025-06-24T08:56:18","slug":"phonepe-to-file-ipo-papers-by-august-aims-to-raise-1-5-billion","status":"publish","type":"post","link":"https:\/\/zerodha.com\/z-connect\/news\/phonepe-to-file-ipo-papers-by-august-aims-to-raise-1-5-billion","title":{"rendered":"PhonePe to file IPO papers by August, aims to raise $1.5 billion"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">PhonePe, India\u2019s leading digital payments platform and a subsidiary of Walmart Inc., is preparing to file its draft red herring prospectus (DRHP) with Indian regulators by early August. The company aims to raise up to $1.5 billion through an initial public offering (IPO), which could value the fintech major at approximately $15 billion, according to a Bloomberg report.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">PhonePe has engaged top investment banks, including Kotak Mahindra Capital, JPMorgan Chase, Citigroup, and Morgan Stanley, to manage the issue. The company was originally incorporated in Singapore but shifted its legal domicile to India in 2022, a move widely seen as a precursor to its public market debut.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Founded in 2015, PhonePe has emerged as the top player on the Unified Payments Interface (UPI), India\u2019s real-time digital payment system. As of January 2025, it serves over 40 million merchants and has over 590 million registered users, processing more than 310 million online transactions daily. In May 2025 alone, the platform handled 8.68 billion UPI transactions worth \u20b912.56 trillion, capturing nearly half of the total market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In 2023, the company raised $100 million from Ribbit Capital, Tiger Global, and TVS Capital at a $12 billion valuation. To date, it has attracted over \u20b918,000 crore in funding from marquee global investors, including General Atlantic, Microsoft, Tencent, and Qatar Investment Authority, in addition to its parent Walmart.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">PhonePe recently added Zarin Daruwala, former CEO of Standard Chartered Bank India, to its board. She joins a high-profile group of directors comprising Walmart executives John David Rainey, Donna Morris, Leigh Hopkins, TeamLease vice-chairman Manish Sabharwal, former Indian bureaucrat Tarun Bajaj, chairman Rohit Bhagat, and co-founders Sameer Nigam and Rahul Chari.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For detailed information on this IPO, <\/span><a href=\"https:\/\/zerodha.com\/ipo\/406555\/phonepe\/\"><span style=\"font-weight: 400;\">click here.<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PhonePe, India\u2019s leading digital payments platform and a subsidiary of Walmart Inc., is preparing to file its draft red herring prospectus (DRHP) with Indian regulators by early August. The company aims to raise up to $1.5 billion through an initial public offering (IPO), which could value the fintech major at approximately $15 billion, according to [&hellip;]<\/p>\n","protected":false},"author":176551,"featured_media":415594,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1152],"tags":[755,276],"class_list":["post-418121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ipo","tag-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.5 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PhonePe to file IPO papers by August, aims to raise $1.5 billion &#8211; Z-Connect by Zerodha<\/title>\n<meta name=\"description\" content=\"PhonePe, India\u2019s leading digital payments platform and a subsidiary of Walmart Inc., is preparing to file its draft red herring prospectus (DRHP) with\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/zerodha.com\/z-connect\/news\/phonepe-to-file-ipo-papers-by-august-aims-to-raise-1-5-billion\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PhonePe to file IPO papers by August, aims to raise $1.5 billion\" \/>\n<meta property=\"og:description\" content=\"PhonePe, India\u2019s leading digital payments platform and a subsidiary of Walmart Inc., is preparing to file its draft red herring prospectus (DRHP) with\" \/>\n<meta property=\"og:url\" content=\"https:\/\/zerodha.com\/z-connect\/news\/phonepe-to-file-ipo-papers-by-august-aims-to-raise-1-5-billion\" \/>\n<meta property=\"og:site_name\" content=\"Z-Connect by Zerodha\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/zerodha.social\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/zerodha.social\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-24T06:39:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-24T08:56:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/zerodha.com\/z-connect\/wp-content\/uploads\/2025\/05\/ipo-news-cover-image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Team Zerodha\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@zerodhaonline\" \/>\n<meta name=\"twitter:site\" content=\"@zerodhaonline\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Team Zerodha\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/zerodha.com\/z-connect\/news\/phonepe-to-file-ipo-papers-by-august-aims-to-raise-1-5-billion\",\"url\":\"https:\/\/zerodha.com\/z-connect\/news\/phonepe-to-file-ipo-papers-by-august-aims-to-raise-1-5-billion\",\"name\":\"PhonePe to file IPO papers by August, aims to raise $1.5 billion &#8211; 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