Wednesday, 24 September, 2025
PhonePe Files Draft IPO Papers via Confidential Route, Eyes ₹12,000 Crore Fundraise
PhonePe, backed by Walmart, has confidentially submitted its Draft Red Herring Prospectus (DRHP) to SEBI, aiming to raise approximately ₹12,000 crore through an Initial Public Offering (IPO). The fintech firm reported a 13.4% reduction in net loss to ₹1,727.4 crore for FY 2024–25, alongside a 40.4% surge in operating revenue to ₹7,114.8 crore. While payments remain its core business, PhonePe has diversified into financial services, including credit, insurance & wealth management.
Read full story at Economic Times