Walmart-Owned PhonePe Starts Preparations For Listing Process In India

Walmart-owned PhonePe has started preparations in connection with its potential IPO and plans to list on Indian exchanges, according to a statement.

"PhonePe has long aspired to be a public company in India, having been founded here and being a leader in India’s fintech industry," the company said.

In December 2022, PhonePe redomiciled from Singapore to India and made structural changes with each of its new non-payment businesses as fully owned subsidiaries.

"PhonePe's strong top-line and bottom-line growth across its diverse business portfolio makes this a suitable time to prepare for a public listing," the company said.