PhonePe IPO: India’s Fintech Powerhouse Gears Up for Market Debut

India’s digital payments leader PhonePe is making headlines with its much-anticipated Initial Public Offering (IPO)—a move investors and fintech watchers have been closely watching.

PhonePe has filed its draft red herring prospectus (DRHP) confidentially with the Securities and Exchange Board of India (SEBI), a key regulatory step toward going public. The filing indicates the company may look to raise around ₹12,000 crore (about $1.3 billion) through an Offer For Sale (OFS)—meaning existing shareholders like Walmart, Microsoft and Tiger Global could sell part of their stakes to the public rather than the company issuing fresh shares.

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