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.
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