Phonepe file papers for nearly £ 12,000 crore IPO via confidential route

US retailer Walmart Inc.-owned Indian payment firm Phoneepe has filed draft papers for an initial public offer (IPO) via the confidential pre-route, the Fintech said in a statement on Wednesday. “The company has submitted the pre-rescue Prospectus (” PDRHP “) to the Securities and Exchange Board of India, BSE and National Stock Exchange with regard to the exchange trading of its shares, under Chapter Iia of the Securities and Exchange Board of India (issue of capital and disclosure requirements) regulations,” “Submitting the PDRHP does not necessarily mean that the company will undertake the IPO,” he added. Phoneepe is expected to largely buy £ 11,000-12,000 by buying an offer, according to a person close to the development. MoneyControl was the first to report that the Fintech submitted the draft papers. The offer has a mixture of offer for sale and a new problem, with the latter forming only a slight part of the total size, the person added. The company has been ready for a public listing for several months. In February, it appointed JP Morgan, Citi India, Morgan Stanley and Kotak Mahindra Capital as merchant bankers to manage the IPO. In April, it moved from a private firm to a public company. It also restructured itself. In 2022 it moved his place of residence from Singapore to India and became the first Indian company to do so. The move involved a tax payment of around £ 8,000 to the Indian government. Revenue rises, losses that are narrow earlier this week reported an income of more than £ 7,000 and closer losses for 2024-25, according to the submission to the Ministry of Corporate Affairs. On a consolidated basis, revenue from operations increased by 41% to £ 7,148.6 crore in 2024-25 from £ 5,064,1 in 2023-24. While the cost continued to grow, the rate was slower than the top line expansion, which helped help £ 1,727.4 crore “> Phoneepe reduced its consolidated loss after tax to £ 1,727.4 crore of £ 1,996.2 crore a year ago. Walmart Inc.