PhonePe begins IPO process, to list on Indian exchanges

Walmart-backed PhonePe announced on Thursday that it has begun preparations for its initial public offering (IPO) on Indian stock exchanges.

According to a press note, the company stated, “PhonePe’s strong top-line and bottom-line growth across its diverse business portfolio, as detailed in its FY23-24 annual report, makes this a suitable time to prepare for a public listing.”