PhonePe Files Confidential Draft Papers For IPO

PhonePe, a Walmart-backed fintech company, has filed confidential draft papers for its Initial Public Offering, the company confirmed in a statement on Wednesday, Sept 24.

As per a Moneycontrol report, the company is aiming to raise around Rs 12,000 crore.

However, it is important to note that the filing of confidential papers does not necessarily mean that the company will undertake an IPO.

On Sept. 22, the company reported a narrowing of its consolidated losses to Rs 1,727.4 crore in FY25, down from Rs 1,996.1 crore in the preceding fiscal, PTI said.

Citing Tofler's data, the report said that the company’s revenue from operations rose 40.5% from Rs 5,064 crore in FY24 to Rs 7,115 crore in FY25. The company posted a tri-fold growth in its adjusted Profit After Tax to Rs 630 crore in FY25, from Rs 197 crore in the previous fiscal year.

The filing of the confidential draft papers came after the company secured final authorisation from the Reserve Bank of India to operate as an online payment aggregator last Friday.

The RBI authorisation enables PhonePe to expand its reach and tap into online merchants, with a particular focus on small and medium businesses (SMEs) across the country. "We believe that this development positions the company to serve a broader spectrum of enterprises seeking reliable and secure payment processing solutions," the company said in a statement.

As of August 2025, PhonePe has over 65 crore registered users and a digital payments acceptance network spread across over 4.5 crore merchants. PhonePe also processes over 36 crore transactions daily with an Annualised Total Payment Value of over Rs 150 lakh crore, the company said.