PhonePe Plans Confidential IPO, Targeting $10-12B Valuation

PhonePe, a financial technology company owned by Walmart, is planning to offer shares to the public through an IPO.

They intend to file their plans confidentially by the end of September, aiming for a valuation between $10 and $12 billion.

The company seeks to raise between $1.2 and $1.5 billion and expects to be listed by early 2026.

The IPO will include both new shares and shares offered by existing investors.

Walmart, the major stakeholder, is expected to keep most of its shares, but other investors, like Tiger Global and General Atlantic, might sell some of their holdings.