Upcoming IPO: PhonePe to list on Indian exchanges, prepares to raise funds via public issue

Walmart-backed PhonePe has begun preparations for a public listing on the Indian stock market, the company announced on Thursday.

The company’s valuation reached $12 billion in its most recent funding round conducted in 2023.

“The company is commencing preparatory steps in connection with its potential IPO and plans to list on Indian exchanges.