Overview
- People familiar with the matter say General Atlantic bought roughly $600 million of secondary shares, taking its PhonePe holding from about 4.4% to near 9%.
- Sources indicate the deal was structured to enable employee option exercises and tax payments, with no payouts to founders or other investors reported.
- PhonePe confirmed it has submitted a pre-filed Draft Red Herring Prospectus with SEBI as well as the BSE and NSE.
- For FY25, revenue from operations rose 40.5% to Rs 7,114.9 crore, while net losses narrowed 13.5% to Rs 1,727.4 crore.
- Including this transaction, General Atlantic’s deployed capital in the Walmart-owned fintech totals about $1.15 billion since 2023.