Walmart-backed PhonePe seeking to raise $1.5 billion from India IPO: Bloomberg

Walmart-backed Indian fintech firm PhonePe is preparing to file preliminary documents for its initial public offering to raise as much as $1.5 billion, Bloomberg News reported on Monday, citing people familiar with the matter.

The IPO would value PhonePe at nearly $15 billion, the report said, adding that the company is planning to file draft papers for the listing by August.

PhonePe declined to comment, while Walmart did not immediately respond to a Reuters request for comment.


PhonePe is among the most widely used apps in India to make payments via the country's popular Unified Payments Interface (UPI).

It has more than 600 million registered users across 40 million merchants. It processes over 310 million online transactions daily.