Phonepe changed its name to become a public entity before the IPO, with the goal of valuation of Rs…
PhonePe is one of India’s most famous digital payments and financial services companies, converted to a public limited company ahead of a key initiative IPO. The company also changed its name from “Phonepe Private Limited” to “Phonepe Limited”.
Phonepe changed its name to become a public entity before the IPO, with the goal of valuation of Rs…
PhonePe is one of India’s most famous digital payments and financial services companies, converted to a public limited company ahead of a key initiative IPO. The company also changed its name from “Phonepe Private Limited” to “Phonepe Limited”. According to requirements before the IPO issuance, the company at the Bangalore headquarters has become a public company for a private company. PhonePe has been registered as a public limited company with a company registrar (ROC).
The company’s statutory requirement in the Company Act 2013 is an official change to make room for the Phonepe public list of Indian stock exchanges, such as NSE and BSE. The Ministry of Corporate Affairs, the Indian government, will soon hand it over to the company certificate. As part of the IPO preparations, the company has appointed consultants to global and domestic banks including JP Morgan, Kotak Mahindra Capital, Morgan Stanley and Citi. PhonePe is valued at $15 billion (1,252,500,000,000).
Under regulatory compliance, public entities are subject to stricter regulations to ensure transparency and accountability. “The company’s board of directors approved the proposal to convert to a public limited company through a resolution adopted on April 3, 2025,” the company’s registrar said in its filing.
This transformation is an important sign for its development and strengthening of its position in India’s growing fintech market. In a strategic move, PhonePe aims to carry out a comprehensive corporate restructuring, according to the company’s relocation from Singapore to India in December 2022. Digital payment and financial platforms are owned by Walmart, a US multinational company.
