Phonepe, a prominent player in digital payments, has announced the start of the process to obtain a possible general list on Indian exchanges, as mentioned in today’s edition. Although a specific schedule was not determined to complete the first public offering procedures (IPO), the company noted the growth of its favorable revenues and the progress towards profitability as factors that raise the decision to initiate preparations for public subscription.
This development follows more than two years from the transfer of Phonepe headquarters from Singapore to India. Phonepe occupies a dominant location in the UPI interface sector (UPI), which was created by Samir Nigham and Rahul Chari, and puts about 47 % of the market share.
After that, Fintech Startup dismissed its various commercial projects – including insurance, international payments, and insurance distribution – to unique sub -entities under the parent company.
The company stated that “the strong upper growth in Phonepe and the end result through its various business portfolio, as detailed in its annual report from 23 to 24, makes this time the right to prepare for a general listing.”
In December 2022, Phonepe moved its main office from Singapore to India with the aim of inserting it into the local stock exchanges. As a result, Fintech, led by Sameer Nigam, has reorganized its structure to its companies by establishing its new non -payment projects as sub -companies fully owned in anticipation of its subscription strategy.
Phonepe recently made a decision to leave the account of the account complex earlier this month and moved to a partnership form with the current AAS. In less than two years of obtaining its non -banking financial company license, the company voluntarily surrendered to the Indian Reserve Bank.
By August 2024, the leading digital payment company has made a modified positive profit after the 197-Cruz rupees in the 23-24 fiscal year, except for the costs related to ESOP. After that, after a recovery of the loss of 738 rupees in the fiscal year 22-23. In addition, Phonepe has recorded a significant annual revenue growth by 74 %, with revenue reached 5,064 rupees in the previous fiscal year, an increase of 2914 rupees.
In the fiscal year 2024, Phonepe recorded operational revenues of 5,064 rupees, with a net 1996 router. By excluding employee shares options from financial accounts related to basic commercial activities, the company has reported a net profit of 197 rupees.
According to the company’s statement, as of January 2025, it includes Phonepe, whose headquarters in Bangaluru, includes more than 590 million registered users and more than 40 million merchants. The platform also facilitates more than 310 million daily transactions, as the annual total payment value (TPV) exceeds 145 rupees.