Walmart-backed PhonePe has reported to file its confidential draft red herring prospectus (DRHP) with the capital market regulator Sebi, according to a report from MoneyControl. The digital payment and fintech player is likely to raise around Rs 12,000 crore ($1.35 billion) through its maiden offering, which is said to be a purely offer-for-sale (OFS) offering, the report said. Advertisement

MoneyControl, citing sources privy to the matter, reported that Walmart, Tiger Global and Microsoft are the three shareholders looking to participate in the OFS issue, which will involve a combined dilution of around 10 per cent stake. However, at the participants and PhonePe have not responded to the same.

According to media reports, PhonePe has picked four investment bankers including Kotak Mahind

See Full Page