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PhonePe files for ₹12K-cr IPO
Financial Express Mumbai
|September 25, 2025
WALMART-OWNED PHONEPE on Wednesday said it has confidentially pre-filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), joining a string of startups that have filed papers to go public this year.
According to sources, the company could be looking to raise around ₹12,000 crore through the offer for sale (OFS) route.
Startups, including Meesho, Pine Labs, Groww, PhysicsWallah, Wakefit, Curefoods, Shiprocket and Shadowfax have already filed their IPO papers, with several of these filings made confidentially.
Recent listings included managed office space provider IndiQube and home services platform Urban Company, which saw its IPO subscribed as much as 109 times.
PhonePe has been enjoying the leading position among the Unified Payments Interface (UPI) players.
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