PhonePe preps for public listing

India’s biggest fintech firm PhonePe has started preparing for its potential initial public offering (IPO) for listing on the country’s bourses, the company said on Thursday.

The company was valued at USD 12 billion during its last funding round held in 2023.

In December 2022, PhonePe redomiciled from Singapore to India for which it had to pay around Rs 8,000 crore in taxes to the government. As of March 2024, the company had about 53 crore users.