Now PhonePe will also be listed in the stock market, preparations are on to bring IPO
PhonePe, one of the country's largest digital payment platforms, may soon launch an IPO. After Paytm, this is the second case of a major digital payment platform being listed in the stock market. Read this news...
Even though the country's stock market is witnessing fluctuations right now, companies and investors still have faith in the Indian stock market.
This is the reason why now the digital payment platform PhonePe has started preparing to bring its IPO. Earlier, payment companies like Paytm and Mobikwik have also brought their IPOs in the country.
PhonePe, a digital payment company owned by Walmart in the US, will soon get itself listed in the stock market. For this, the company is going to choose the IPO route. The company said on Thursday that it has started preparing for the IPO.
This is the valuation of the company right now
PhonePe last raised funds in 2023. Then the valuation of the company was kept at $12 billion. In such a situation, the valuation of the company for the IPO could have been this much or even more.
Regarding the IPO, a statement from PhonePe said, "The company has started preparing for its potential IPO. It plans to get itself listed in the Indian stock markets. This is an important occasion for the company. This year it will be 10 years since it started working in India."
PhonePe came to India from Singapore
PhonePe was started by Flipkart. This e-commerce category company used to operate in India from Singapore. Later, Walmart of America acquired Flipkart, due to which the ownership of PhonePe also came to Walmart.
As per the rules of the Reserve Bank of India, digital payment companies working in India have to store all their data in India only.
In such a situation, in December 2022, PhonePe shifted its base from Singapore to India. For this, it had to pay around Rs 8,000 crore as tax to the Government of India.
UPI is the biggest source of digital payment in India today. In January 2025, PhonePe had a market share of more than 47 percent of all UPI transactions in the country.
After PhonePe, Google's Google Pay service is the second leading payment company in the country with more than 36 percent market share. Paytm now has only 6.78 percent market share left.