Walmart-backed PhonePe files confidential IPO

Walmart-backed payments aggregator PhonePe has filed for an Initial Public Offering, according to company spokesperson.

“PhonePe Limited has filed the Pre-filed Draft Red Herring Prospectus with SEBI and the Stock Exchanges, under Chapter IIA of the SEBI ICDR Regulations in relation to the proposed initial public offering of its equity shares on the main board of the Stock Exchanges (“Offer”),” the company said in a statement.

The spokeperson declined to disclose details of size, or timing of the IPO.

Phonepe is part of other payment aggregators like MobiKwik which filed for IPO.