PhonePe Hires Meta India’s Ex-Policy Lead Shivnath Thukral in IPO Countdown

Digital payments major PhonePe has appointed Shivnath Thukral, former head of public policy at Meta India, as Vice President of Public Policy and Government Affairs, as it gears up for its much-anticipated IPO.

Thukral, who brings with him over two decades of experience in policy advocacy, communication, and strategic engagement, will lead PhonePe’s interactions with policymakers, regulators, and government bodies. 

As per the company release, his role will involve working closely with the company’s leadership team, including co-founders Sameer Nigam and Rahul Chari, to steer the company’s policy direction in a rapidly evolving regulatory landscape.
“We are delighted to have Shivnath join the PhonePe team. He brings a strong understanding of India’s policy environment and will play a key role in aligning our efforts with national priorities,” said Sameer Nigam, CEO and Co-founder of PhonePe in an official statement. 

Also Read: PhonePe Becomes A Public Company Ahead Of IPO: All You Need To Know | Republic World

Thukral’s appointment comes at a critical time for the Walmart-owned fintech giant, which is preparing to go public in the coming months. The company has converted itself into a public limited entity and is working with top investment banks including Kotak Mahindra Capital, JPMorgan Chase, Citi, and Morgan Stanley for the upcoming listing. 

Industry estimates peg the expected valuation of the company at $15 billion. Thukral stepped down from Meta in June 2025, where he played a significant role in shaping the tech major’s public policy agenda in India, particularly in areas such as digital payments, online safety, and internet governance.

Strategic Hire 

PhonePe, which commands close to 48% share of India’s UPI market, is increasingly navigating complex policy discussions around issues like digital payment charges, data localisation, and fintech regulations.
The company closed FY24 with revenue of over Rs 5,000 crore and a profit after tax of Rs 197 crore, underscoring its strong financial position ahead of the IPO. It was last valued at around $12 billion in the private market.