IPO-bound PhonePe’s payments business generates ₹1,931.80 crore in adjusted EBITDA in FY25

In light of the recent approval from the Securities and Exchange Board of India (SEBI), PhonePe has submitted its Updated Draft Red Herring Prospectus (UDRHP), bringing it a step closer to its much-anticipated public offering. The company, which first filed confidential IPO documents in September 2024, is expected to enter the markets soon.

As per the UDRHP, the public offering will include an offer for sale of up to 50,660,446 equity shares, led by the primary stakeholder Walmart, along with other prominent investors such as Tiger Global and Microsoft.