PhonePe Starts Preparations for a Public Listing in India

National, February 20th, 2025: PhonePe is announcing today that the company is commencing preparatory steps in connection with its potential IPO and plans to list on Indian exchanges. This marks a significant milestone for the company, which will celebrate its 10-year anniversary this year, and has grown to serve hundreds of millions of customers with innovative financial services and technology solutions. 

PhonePe has long aspired to be a public company in India, having been founded here and being a leader in India’s fintech industry. In Dec 2022, PhonePe redomiciled from Singapore to India, and subsequently, established a clear corporate structure with each of its new non-payment businesses as fully owned subsidiaries. PhonePe’s strong top-line and bottom-line growth across its diverse business portfolio, as detailed in its FY23-24 annual report*, makes
this a suitable time to prepare for a public listing.

About PhonePe Group:

PhonePe Group is India’s leading fintech company. Its flagship product, the PhonePe digital payments app, was launched in Aug 2016. Since then, the PhonePe app has become India’s leading consumer payments app. As of January 2025, PhonePe has over 59 Crore lifetime registered users and a digital payments acceptance network spread across over 4 Crore merchants. PhonePe also processes over 31 Crore transactions daily with an Annualized Total Payment Value (TPV) of over INR 145 lakh crore. 

On the back of its leadership in digital payments, PhonePe Group has expanded into financial services (Insurance, Lending, Wealth) as well as new consumer tech businesses (Pincode -hyperlocal e-commerce and Indus App Store – India’s first localized App Store). PhonePe Group is an India headquartered technology company with a portfolio of businesses aligned with the company’s vision to offer every Indian an equal opportunity to accelerate their progress by
unlocking the flow of money and access to services.

For more details, contact: [email protected]

*The PhonePe Annual Report is available for download on:
https://www.phonepe.com/press/annual-report/PhonePe-Annual-Report-FY-23-24.pdf