PhonePe gets SEBI nod for IPO
Walmart-owned PhonePe has received approval from the Securities and Exchange Board of India (Sebi) to go ahead with its IPO, sources close to the matter said. The company, which had confidentially filed its IPO papers in September, will be filing an updated Draft Red Herring Prospectus soon.
According to sources, the company could be looking to raise around Rs 12,000 crore primarily through the offer for sale (OFS) route. Besides parent Walmart, PhonePe’s investors include General Atlantic, Ribbit Capital, Tiger Global and TVS Capital Funds, among others.
