PhonePe IPO: Date, Share Price, Review & Details
PhonePe is one of India’s leading digital payments and financial services platforms, founded in 2015 and majority-owned by Walmart. It is India’s first Unified Payments Interface (UPI)-based payments app launched by a non-bank fintech company. PhonePe enables users to perform financial transactions such as sending and receiving money, mobile recharges, utility bill payments, in-store purchases, and offers a wide range of financial products including credit, insurance, and mutual funds.
With over 590 million registered users and more than 40 million merchants as of early 2025, PhonePe commands a significant share of India's UPI payment market.
Business Model and Operations
PhonePe operates on a full-stack financial services model, generating revenue through transaction commissions, financial product sales, loan interest, and insurance premiums. Its extensive ecosystem covers digital payments, credit facilitation, insurance, and wealth management. The company continuously expands its offerings and deepens penetration in tier 2 and tier 3 cities with a strong technology platform and user-friendly interface.
PhonePe IPO Details
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The company plans to file its draft red herring prospectus (DRHP) with SEBI in August 2025.
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The IPO is expected to raise approximately $1.5 billion (around Rs 12,750 crore) in what could be one of the largest fintech IPOs in India.
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Expected IPO timing is late 2025 (exact dates to be announced).
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Shares will be listed on both the NSE and BSE.
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The IPO will likely be a book-building issue with QIB allocation capped at 50%, retail allocation of at least 35%, and NII allocation not less than 15%.
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The IPO price band and lot size will be announced closer to the offering date.
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Lead managers include Kotak Mahindra Capital, JPMorgan Chase, Citigroup, and Morgan Stanley.
Use of IPO Proceeds
Most proceeds will support the scaling of PhonePe’s financial services businesses including lending, insurance, and wealth management, alongside investments in technology, customer acquisition, and expansion of its payments infrastructure.
Financial Performance Highlights
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FY24 revenue crossed Rs 5,000 crore with 74% year-on-year growth.
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The company narrowed net losses by 29% in FY24.
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Operates the largest number of UPI transactions with a 47.8% market share in UPI volume.
What You’ll Find on This Page
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Access to detailed prospectus documents, financial statements, and valuation metrics.
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Subscription status, Grey Market Premium (GMP), expert reviews, and allotment information.
Frequently Asked Questions (FAQs) about PhonePe IPO
Q1: When will the PhonePe IPO open for subscription?
The IPO is expected to open in late 2025; exact dates will be announced after SEBI approval.
Q2: What is the estimated IPO size?
PhonePe aims to raise approximately $1.5 billion (around Rs 12,750 crore) through this IPO.
Q3: What will the funds be used for?
Funds will be utilised to grow financial services verticals such as lending, insurance, and wealth management and for technology and infrastructure investment.
Q4: On which stock exchanges will PhonePe be listed?
Shares will be listed on NSE and BSE.
Q5: Who are the lead managers for the IPO?
Kotak Mahindra Capital, JP Morgan, Citigroup, and Morgan Stanley are the lead managers for the offer.
Q6: How do I check my IPO allotment status?
Allotment status can be checked on the registrar’s website and stock exchange portals after the allotment date.
For ongoing updates on PhonePe IPO share price, allotment, detailed financials, and news, keep visiting this page for the latest insights and announcements.