PhonePe Files for $1.5 Billion IPO | Walmart-Backed Fintech Plans Market Debut Soon | Business News　 #ETNOW

Digital payments giant PhonePe has confidentially filed its Draft Red Herring Prospectus (DRHP) with SEBI for a $1.5 billion IPO. Backed by Walmart, the IPO will also see investors like General Atlantic partially offload stakes. Citi, Kotak, JP Morgan, and Morgan Stanley are lead managers. Incorporated in 2012 by Rahul Chari, Sameer Nigam, and Burzin Engineer, PhonePe’s listing could be one of India’s biggest fintech IPOs.

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