PhonePe IPO gets SEBI nod; company eyes April listing
MUMBAI: PhonePe has secured go ahead from markets regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO), said people aware of the matter. The Walmart-owned company is seeking to raise around Rs 12,000 crore ($1.3 billion) through an offer for sale (OFS). An OFS allows existing company shareholders to offload their stakes and exit their investments; no money goes into the firm’s coffers.
PhonePe will file updated draft IPO papers with SEBI in the next few days, the people said. The company, last valued at $12 billion, plans to get listed on the bourses sometime in April, they added.
