february 28, 2025

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PhonePe, India’s leading digital payments platform, is gearing up for its much-anticipated IPO. Here are the key things you should know.

Leader in UPI space

With a market share of 47.7% in UPI transactions as of January 2025, PhonePe leads India's digital payments ecosystem.

Highest UPI transactions

PhonePe processed a record 8.1 billion transactions on the Unified Payments Interface (UPI) in January 2025.

Key metrics (FY 2023-24)

- Adjusted PAT: ₹197 crore - Revenue: ₹5,064 crore - User Base: 550 million+ - Daily Transactions: 270 million+

IPO valuation

PhonePe is seeking a valuation of up to $15 billion in its upcoming IPO.

Strategic move

In October 2022, PhonePe relocated its headquarters from Singapore to India, aligning with local regulations and signaling commitment to the Indian market.

Strong backing

Walmart holds a majority stake in PhonePe. This backing strengthens its IPO prospects and long-term growth potential in India's fintech space.

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