PhonePe, the popular digital payments platform significantly supported by retail giant Walmart, has formally submitted its application for an Initial Public Offering (IPO), a company spokesperson confirmed.
In an official statement, the company announced, “PhonePe Limited has submitted its Pre-filed Draft Red Herring Prospectus (DRHP) to both SEBI and the Stock Exchanges. This filing, made under Chapter IIA of the SEBI ICDR Regulations, pertains to the proposed initial public offering of its equity shares on the main board of the Stock Exchanges.”
However, a representative for the company chose not to reveal specific information regarding the offering’s overall size or the anticipated schedule for its market debut.
PhonePe is following a trend set by other notable payment aggregators, such as MobiKwik, which have also moved forward with their own IPO filings in the recent past.