Digital payments major PhonePe has paused its initial public offering (IPO) plans, citing global market volatility triggered by the ongoing geopolitical tensions between Iran-Israel and the US. Several sources familiar with the development said that a mismatch between the valuation PhonePe was seeking and what the market and bankers were willing to offer was also a factor behind the decision to delay the listing.
“PhonePe had scaled down expectations to a lower valuation of around $11 billion from its peak of $15 billion. While the ask seemed…
