PhonePe IPO gets regulatory approval from SEBI! India’s top UPI firm eyes stock market debut; check details

Walmart-backed digital payments firm PhonePe on Tuesday received regulatory approval from market watchdog SEBI for its initial public offering. The clearance marks a key milestone for one of India’s most anticipated fintech listings.

The approval follows PhonePe’s confidential filing for an IPO in September, according to Reuters. The company is now expected to file its Updated Draft Red Herring Prospectus (UDRHP) shortly, formally setting the process in motion.