PhonePe Clears SEBI Hurdle for India IPO: Walmart, Microsoft to Offload Shares

• Walmart-backed PhonePe has received SEBI approval for its initial public offering (IPO) in India.
• The Bengaluru-based digital payments firm confidentially filed its draft red herring prospectus in September.
• Major investors like Walmart, Microsoft, and Tiger Global are expected to sell some of their shares during the IPO.
• PhonePe, India's leading UPI payments platform, holds over 45% market share by volume as of December 2025.
• The company reported narrowed losses of 17.2 billion rupees for the year ended March 2025.

Why It Matters: PhonePe secures SEBI nod for its India IPO, with key investors planning to offload shares.