PhonePe IPO: Soon ‘Phone Pay’ IPO; Officially declared Fin Tech app

India’s largest Fin Tech Company Phone Pay has started preparations for its initial public offerings (IPOs) on Indian exchanges. Wal -mart -owned company was $ 12 billion in the final funding round in 2023.

10 years later ..

The company is starting preparations to bring IPOs soon and is planning to list in Indian exchanges. “This phone is an important milestone for the Swadd phone pay, which will be celebrated this year’s 10 -year anniversary, with innovative financial services and technical solutions to the level of service to hundreds of crores of customers.” The company said, “A strong top-line, various commercial portfolio has a bottom growth growth, as described in its annual report of its financial year 23-24,” the company said.

48% market share

The phone working from Singapore returned to India in December 2022. Headquarters established in Bangalore. For this, the government will have to pay taxes worth about Rs 8,000 crore. The phone is currently owned by 48% market share of the Indian UPI market. After that, Google pay, which is 37 percent of the market share, is second. Phone Pay founder Sameer Anigam has earlier said that he will not go to the IPO until it is clear on the cap of market share. Due to cost capacity and production diversity in FY 2024, phone pay income increased by 73 % to Rs. 5,064 crores. The phone pay group recorded an adjustment of Rs.197 crore adjustment (PAT) in the last year as compared to a loss of Rs 738 crore.