Walmart-backed PhonePe seeking to raise $1.5 billion from India IPO: Bloomberg

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Walmart-backed Indian fintech firm PhonePe is preparing to file preliminary documents for its initial public offering to raise as much as $1.5 billion, Bloomberg News reported on Monday, citing people familiar with the matter.

The IPO would value PhonePe at nearly $15 billion, the report said, adding that PhonePe is planning to file draft papers for the listing by August.

Both PhonePe and Walmart did not immediately respond to Reuters’ requests for comment.

PhonePe is among the most widely used apps in India to make payments via the country’s popular…



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Walmart-backed PhonePe seeking to raise $1.5 billion from India IPO: Bloomberg


Walmart-backed Indian fintech firm PhonePe is preparing to file preliminary documents for its initial public offering to raise as much as $1.5 billion, Bloomberg News reported on Monday, citing people familiar with the matter.

The IPO would value PhonePe at nearly $15 billion, the report said, adding that PhonePe is planning to file draft papers for the listing by August.

Both PhonePe and Walmart did not immediately respond to Reuters’ requests for comment.

PhonePe is among the most widely used apps in India to make payments via the country’s popular…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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