Walmart-Backed PhonePe Files For IPO Via Confidential Route

 Walmart-backed fintech firm PhonePe has filed for an initial public offering via the confidential route, the company's spokesperson said on Wednesday.

The IPO will raise around 120 billion rupees ($1.35 billion), Moneycontrol reported, citing sources. 

A Bloomberg report estimated that PhonePe's upcoming IPO could be valued at $1.5 billion, giving the company an overall valuation of $15 billion.

For the fiscal year ending March 31, 2025, PhonePe reported consolidated revenue of ₹7,115 crore, reflecting a 40% increase from ₹5,064 crore in FY24. Standalone revenue rose 33% to ₹6,544 crore, according to filings with the Ministry of Corporate Affairs (MCA).

Total income for the year reached ₹7,631.38 crore, up from ₹5,722.20 crore in FY24. While PhonePe's consolidated net loss narrowed to ₹1,727 crore from ₹1,996 crore a year earlier, marking a 13% improvement, its consolidated expenses grew to ₹9,394 crore from ₹7,754 crore, driven by investments in technology, customer acquisition, and scaling its subsidiaries.