PhonePe is said to seek Rs 13,018 crore for IPO

Walmart Inc.’s PhonePe, India’s largest provider of digital payments, is preparing to file preliminary documents for an initial public offering that may raise as much as Rs 13,018 crore ($1.5 billion), according to people familiar with the matter.

The deal would value the fintech company at about Rs 1,30,151 crore ($15 billion), and PhonePe is planning to submit a draft red herring prospectus for the listing by as early as August, the people said, asking not to be identified because the information is private.