PhonePe IPO gets SEBI nod but needs to file an updated DRHP first
India’s largest payments app PhonePe has received regulatory approval for an initial public offering, except it has to file updated draft papers. That sets the stage for one of the most anticipated fintech IPOs in India.
The PhonePe IPO is slated to be a pure offer for sale by existing shareholders, meaning the company backed by Walmart Inc. won’t be raising any additional funds for itself.
