National, February 21th, 2025: PhonePe is announcing today that 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 has long aspired to be a public company in India, having been founded here and being a leader in India’s fintech industry. In Dec 2022, PhonePe redomiciled from Singapore to India, and subsequently, established a clear corporate structure with each of its new non-payment businesses as fully owned subsidiaries. PhonePe’s strong top-line and bottom-line growth across its diverse business portfolio, as detailed in its FY23-24 annual report*, makes this a suitable time to prepare for a public listing.