PhonePe IPO: Walmart to Cut Stake, Microsoft & Tiger Global to Exit

• PhonePe filed an updated DRHP, revealing plans for its much-anticipated IPO.
• Walmart will reduce its stake in PhonePe by approximately 12% through the IPO, offloading around 46 million shares.
• Early investors Tiger Global and Microsoft are set to fully exit their investments, selling their entire holdings.
• The IPO will be a pure offer-for-sale, meaning PhonePe will not issue new equity or receive any proceeds.
• PhonePe aims for a market debut by mid-2026, capitalizing on India's strong primary markets.

Why It Matters: Walmart, Microsoft, and Tiger Global are reducing or exiting their stakes in PhonePe via its upcoming IPO.