The digital payment company is seeking a valuation of USD 8-10 billion and plans to list on Indian bourses. Get more IPO News and Business News on Zee Business.
Over the past year, PhonePe has moved all businesses and subsidiaries including Insurance Broking Services and Wealth Broking businesses of PhonePe Singapore to PhonePe Pvt Ltd - India.
Fintech player PhonePe, a part of the Walmart Inc-controlled Flipkart group, on Monday said it has completed the process of moving its domicile from Singapore to India. PhonePe Moves Domicile From Singapore to India.
Currently, PhonePe is a leader in the Unified Payments Interface (UPI) and owns a lion’s share of 46.36 per cent in the UPI ecosystem. In addition to this, the company also plans to go public by 2023.
PhonePe has moved its businesses and subsidiaries, existing employees’ ESOP plans, and ownership of recently acquired IndusOS from Singapore to India