Overview
- PhonePe said it has submitted a pre-filed Draft Red Herring Prospectus to SEBI, BSE and NSE under the confidential route and noted the filing does not necessarily mean it will proceed with an IPO.
- Reports indicate the offering could be around Rs 12,000 crore and largely an offer-for-sale by existing investors, with Walmart, Tiger Global and Microsoft expected to participate.
- The fintech reported FY25 operating revenue of Rs 7,114.9 crore, up 40.5% year on year, with a narrowed consolidated net loss of Rs 1,727.4 crore and free cash flow from operations of Rs 1,202 crore.
- Adjusted profitability improved, with adjusted PAT of Rs 630 crore, as payments contributed about 88.5% of operating revenue and lending and insurance distribution rose to Rs 557.6 crore.
- The filing follows final RBI authorisation for PhonePe to operate as a payment aggregator and sustained UPI leadership in August with about 9.15 billion transactions and roughly 46% market share.