Mumbai: PhonePe, the fintech company backed by global retail giant Walmart, has taken a big step toward going public. According to Reuters, PhonePe has confidentially filed its draft papers for an Initial Public Offering (IPO) with SEBI (Securities and Exchange Board of India).

Reports suggest that the IPO could be worth around Rs 1,2000 crore (approximately $1.35 billion). The company has used the confidential pre-filing route, which allows businesses to keep IPO details private until closer to the listing date. Read Also EPack Prefab Technologies Raises ₹151.2 Crore From Anchor Investors A Day Ahead Of IPO

What Is a Confidential IPO Filing?

This route lets companies file their Draft Red Herring Prospectus (DRHP) without revealing information publicly. It also gives them the flexib

See Full Page