PhonePe has updated its draft red-herring prospectus for its initial public offering, though no timeline for the listing has been disclosed.
According to media reports, the revised draft includes an offer for sale of 5.07 crore shares by existing shareholders, including Walmart Inc. and Tiger Global Management.
The offering could raise about $1.5 billion (approximately Rs 13,500 crore), valuing the digital payments firm at around $15 billion.
As per reports, PhonePe’s offering appears primarily aimed at providing liquidity to existing investors rather than funding expansion.
