Expected IPOBSENSE

PhonePe IPO

PhonePe is a technology company building digital platforms for population-scale adoption, powering a broad ecosystem across Payments Services, Digital Distribution Services, and Financial Services. Through its platforms, PhonePe aims to unlock the flow of funds and enable access to goods and services for users across India.

Lead Managers: Kotak Mahindra Capital Co.Ltd. · JP Morgan India Pvt.Ltd. · Citigroup Global Markets India Pvt.Ltd. · Morgan Stanley India Co.Pvt.Ltd. · Goldman Sachs (India) Securities Pvt.Ltd. · Jefferies India Pvt.Ltd. · JM Financial Ltd. · Axis Capital Ltd.

Price Band

Issue Size

₹12,000 Cr

Issue Type

Mainboard

Latest GMP

₹0

Est. Listing

TBA

GMP Gain

IPO Overview

CompanyPhonePe IPO

Face Value₹1

Offer for Sale₹12,000 Cr

Total Issue Shares5,06,60,446

Fresh Issue Shares0

OFS Shares5,06,60,446

Pre-Issue Promoter Holding73.33%

IPO Timeline

GMP History

Date	GMP (₹)	Gain (%)
7 Jun 2026	₹0	0%

GMP is unofficial grey market data. Expected listing price may differ from actual listing.

Reservation Details

qib

75%

retail

10%

nii

15%

employee

Not Applicable

0 shares

shareholder

Not Applicable

0 shares

Promoters

WM Digital Commerce Holdings Pte. Ltd.Walmart International Holdings Inc.Sameer NigamRahul ChariBurzin Engineer

Financial Performance

Metric (₹ Cr)	30 Sep 2025	FY 2025	FY 2024	FY 2023
Assets	23,178.95	18,205.23	12,706.48	11,840.28
Revenue	4,174.51	7,631.38	5,722.2	3,083.43
PAT	-1,444.42	-1,727.41	-1,996.17	-2,796.07
Net Worth	9,539.02	9,374.34	9,324.12	7,387.24

Key Performance Indicators

ROE

-15.06%

ROCE

-25.07%

PAT Margin

-34.6%

Objects of the Issue

1
Offer for Sale
₹12,000 Cr

IPO Documents

DRHP

Download

IPO Updates

SEBI/Exchange approval received

20 Jan 2026

SEBI has approved the Initial Public Offer (IPO) of PhonePe Ltd. The approval is valid for 18 months.

Filed with SEBI/Exchange

23 Sept 2025

PhonePe filed its Draft Red Herring Prospectus (DRHP) with SEBI.

Registrar

KFin Technologies Ltd

04067162222, 04079611000
phonepe.ipo@kfintech.com
https://ipostatus.kfintech.com

Frequently Asked Questions

What does PhonePe do?

PhonePe is a digital payments and financial technology company that offers UPI payments, merchant payment solutions, insurance, lending, wealth management, and digital commerce services through its technology platforms.

What is the PhonePe IPO?

PhonePe IPO is a mainboard IPO consisting entirely of an Offer for Sale (OFS) of 5,06,60,446 equity shares. The issue size is estimated at ₹12,000 crore, and the shares are proposed to be listed on BSE and NSE.

What is the issue size of PhonePe IPO?

The total issue size of PhonePe IPO is ₹12,000 crore. The IPO consists entirely of an Offer for Sale (OFS) with no fresh issue component.

Who are the promoters of PhonePe?

The promoters of PhonePe are WM Digital Commerce Holdings Pte. Ltd., Walmart International Holdings Inc., Sameer Nigam, Rahul Chari, and Burzin Engineer.

When will PhonePe IPO open for subscription?

The official IPO opening and closing dates have not been announced yet. Investors should wait for the Red Herring Prospectus (RHP) and exchange notifications for the final schedule.

What is the price band of PhonePe IPO?

The price band for PhonePe IPO has not been announced yet. The company is expected to disclose the final price band closer to the IPO opening date.

What is the Grey Market Premium (GMP) of PhonePe IPO today?

As of June 7, 2026, the Grey Market Premium (GMP) of PhonePe IPO is not available. GMP may emerge closer to the IPO opening date.

Is PhonePe profitable?

PhonePe is currently loss-making. The company reported a loss after tax of ₹1,727.41 crore in FY 2025 compared to a loss of ₹1,996.17 crore in FY 2024, showing improvement in profitability.

What was PhonePe's revenue in FY 2025?

PhonePe reported revenue of ₹7,631.38 crore in FY 2025, compared to ₹5,722.20 crore in FY 2024.

Where will PhonePe IPO be listed?

PhonePe IPO is proposed to be listed on both BSE and NSE.

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