Walmart-backed PhonePe has received regulatory approval to go public in India, marking a key milestone toward its long-awaited IPO. The digital payments leader, reportedly targeting a $15 billion valuation, could see investors including Walmart, Microsoft, and Tiger Global reduce stakes as India’s fintech landscape continues to accelerate.
Key Takeaways
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Regulatory approval clears path: India’s market regulator has reportedly greenlit PhonePe’s IPO plans, signaling the formal start of one of the country’s largest fintech listings.
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Major investors to pare holdings: Backers such as Walmart, Microsoft, and Tiger Global are expected to sell part of their stakes, aligning with broader corporate portfolio strategies.
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Dominant UPI market position: With more than 45% of India’s UPI transaction volume, PhonePe’s scale underscores its central role in the nation’s digital economy transformation.
