Last mentioned: Mar 6, 2026
Expected Listing
Anticipated debut on Indian stock exchanges (NSE/BSE).
IPO Filing
Targets $1B raise and submits preliminary documents.
Merchant Expansion
Network grows to 47 million businesses across India.
Funding Round
Raised $850M at a $12B private valuation.
Domicile Shift
PhonePe completes move from Singapore to India, paying $1B in taxes.
PhonePe, the Indian digital payments giant majority-owned by Walmart, is preparing for a $1 billion initial public offering targeting a valuation of up to $10.5 billion. The listing follows a strategic domicile shift to India and a massive expansion of its merchant network to 47 million businesses.
PhonePe, India’s leading digital payments platform, is reportedly preparing a $1 billion initial public offering as it seeks to solidify its market dominance. The move represents a major strategic milestone for majority-owner Walmart, which aims to unlock significant value from its Indian fintech investments.