PhonePe IPO: Digital Payments Giant Plans ₹12,000 Crore Market Debut with SEBI Approval

New Delhi: India’s leading fintech company, PhonePe, is preparing to launch its Initial Public Offering (IPO) and give investors an opportunity to participate in its growth story. The IPO is expected to raise approximately ₹12,000 crore (USD 1.3 billion) and has already received regulatory approval from SEBI.

Owned by Walmart, PhonePe’s IPO could become the second-largest market debut by an Indian startup. The funds raised will come through an Offer for Sale (OFS), meaning existing shareholders – including Tiger Global, Microsoft, and Walmart – will sell their shares, and the company itself will not raise any fresh capital. PhonePe had submitted its IPO application confidentially last September and will soon file an updated draft prospectus with SEBI.

IPO Timeline and Company Overview
PhonePe, a major player in India’s digital payments space, is expected to go public in April 2026. The company shifted its base from Singapore to India and has diversified beyond payments into insurance, wealth management, loans, and stock broking services. Competing with Google Pay and Paytm, PhonePe continues to benefit from the rapid growth of India’s digital payments ecosystem, which still has significant untapped potential as millions of Indians are yet to fully access banking and financial services.

Use of IPO Proceeds
While the OFS proceeds will go to existing shareholders, the company’s strong business model and market position suggest a positive outlook for investor returns. Analysts believe PhonePe’s IPO is likely to be well-received, although market volatility and competitive pressures may present challenges.

Other IPOs in the Pipeline
Other startups planning market debuts this month include Amagi Media Labs (SaaS) and Shadowfax (logistics). Large players like Zepto, Oyo, and Walmart’s other venture Flipkart are also lining up to enter the stock market this year. Strong domestic liquidity is boosting IPO activity, but geopolitical tensions have caused some market fluctuations, prompting several startups to revise their valuation targets.