PhonePe IPO: India's Fintech Giant Prepares for Listing

New Delhi, Feb 20 (PTI) India's biggest fintech firm PhonePe has started preparing for its potential initial public offering (IPO) for listing on the country's bourses, the company said on Thursday.

The company was valued at USD 12 billion during its last funding round held in 2023.

"The company is commencing preparatory steps in connection with its potential IPO and plans to list on Indian exchanges. This marks a significant milestone for the company, which will celebrate its 10-year anniversary this year, and has grown to serve hundreds of millions of customers with innovative financial services and technology solutions," PhonePe said in a statement.

In December 2022, PhonePe redomiciled from Singapore to India for which it had to pay around Rs 8,000 crore in taxes to the government.