PhonePe confidentially files DRHP with SEBI for $1.5 billion IPO
Joins Bengaluru-based fintech startup, Groww, in the same segment
Walmart-supported PhonePe has quietly filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) as per the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The digital payments major has sought a $1.5 billion IPO, valuing at $15 billion.
Meanwhile, the fintech company has narrowed its net loss in FY 2025 to Rs.1,727 crore from Rs.1,996 crore in FY 2024. Its operating revenue rose 40 percent to Rs.7,114.8 crore from Rs.5,064 crore in FY 2023.
Even as payments are the core of PhonePe’s business, the company has also ventured into credit, insurance and wealth management through multiple subsidiary entities.
Recently, it secured a payment aggregator licence from the Reserve Bank of India (RBI) to offer online merchant payment services.
PhonePe has joined Bengaluru-based fintech startup, Groww, in the IPO segment. Groww had filed the DHRP on 16 September.
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