India’s PhonePe secures regulatory nod for IPO- report

Indian integer payments institution PhonePe has obtained regulatory clearance for its projected archetypal nationalist offering (IPO), Reuters reported citing 2 radical acquainted with the matter.

The support follows the company’s confidential filing of draught IPO documents with from the Securities and Exchange Board of India (SEBI) successful September past year.

The planned listing whitethorn see a involvement merchantability by existing shareholders Walmart, Microsoft and Tiger Global, the sources told the quality agency.

PhonePe declined to remark connected the development, portion Walmart, Microsoft and Tiger Global did not instantly respond to Reuters’ requests for comment.

PhonePe is reportedly targeting a fundraise of astir Rs120bn ($1.35bn) done the stock sale. The institution is aiming to implicit its listing by mid-2026, according to an earlier report.

In 2023, PhonePe was valued astatine astir $12bn successful backstage backing rounds.

The IPO plans travel arsenic India’s superior equity markets stay active, with wide fundraising successful 2025 reaching a grounds level.

Founded successful 2015, PhonePe operates 1 of India’s largest integer payments platforms and holds a starring presumption connected the Unified Payments Interface (UPI). As of December 2025, the institution accounted for much than 45% of UPI transaction volumes.

In August 2025, it processed 9.8 cardinal retired of 21.6 cardinal UPI transactions, according to information from the National Payments Corporation of India (NPCI).

PhonePe reports having implicit 600 cardinal registered users connected its level and provides outgo acceptance solutions to astir 50 cardinal merchants crossed India.

Ahead of the IPO, PhonePe reported a simplification successful yearly losses. In a regulatory filing, the institution said its nett nonaccomplishment narrowed to Rs17.2bn ($189m) for the fiscal twelvemonth ended successful March 2025. The fig stood astatine Rs19.96bn successful the erstwhile year.

Last year, PhonePe received last authorisation from the Reserve Bank of India to run arsenic an online outgo aggregator. The licence permits the institution to supply outgo aggregation services to merchants nether the cardinal bank’s regulatory framework.

"India’s PhonePe secures regulatory motion for IPO- report" was primitively created and published by Electronic Payments International, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.