PhonePe IPO Accelerates After SEBI Approval, Eyes $15 Billion Valuation

• Digital payments giant PhonePe has received SEBI approval for its highly anticipated IPO.
• The company aims for a $15 billion valuation and plans to raise approximately ₹12,000 crore.
• The IPO is expected to be an Offer For Sale (OFS), allowing existing investors like Walmart and Tiger Global to sell stakes.
• PhonePe dominates the UPI market with a 45% share, processing 10 billion transactions monthly.
• Despite diversifying, over 90% of PhonePe's revenue still comes from its core payment business.

Why It Matters: PhonePe's IPO is set to launch after SEBI approval, targeting a $15 billion valuation and ₹12,000 crore.