PhonePe updates IPO draft paper valuing firm at $15 billion
The IPO is expected to raise around Rs 13,500 crore
Pitch Feature
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PhonePe has filed an updated draft red herring prospectus for its proposed initial public offering.
However, the company has not yet revealed a timeline for the listing.
Media reports indicate that the revised draft will include an offer for sale of 5.07 crore shares by current investors, including Walmart Inc. and Tiger Global Management.
The IPO is expected to raise nearly $1.5 billion (around Rs 13,500 crore), which would value the digital payments company at close to $15 billion.
Reports suggest that the issue is largely intended to offer an exit route to existing shareholders, rather than to fund business expansion.
