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PhonePe IPO Details
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IPO Size
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About PhonePe IPO
Digital payments and financial services major PhonePe has filed papers with Sebi for a bumper IPO through the confidential route. It's reported to raise around ₹12,000 crores through its IPO. According to reports, the IPO is expected to hit the markets by mid-2026.
PhonePe is one of India's leading digital payments platforms, founded in 2015. Through it, users can make a range of financial transactions, including bill payments, recharges, P2P payments, etc. It has also secured a payment aggregator licence from the RBI earlier in September 2025.
Objectives of PhonePe IPO
TBA
PhonePe IPO Share Offer and Subscription Details
Industry Outlook
Recently, digital transactions in India have experienced a significant surge, with UPI leading the country's digital payment revolution. It recorded 16.73 billion transactions in December 2024. Additionally, IMPS and NETC FASTag have played a pivotal role in making financial transactions more secure and faster.
Digital payments in India continue to surge. A year-on-year (YoY) transactional volume growth of 42% was recorded in FY 2023–24. It’s poised to grow by three times in FY 2028–29. This growth can be attributed to multiple factors. These include innovations by ecosystem participants, new business models and opportunities, changing technology, and increasing customer awareness.
Company Information
PhonePe is one of the widely used digital payment apps in India. It's powered by UPI. Headquartered in Bangalore, it’s backed by Walmart. Over the years, it has become one of the top players in India's fintech space.
Strengths of PhonePe
- Market leadership in digital payments
- Huge user base and merchant network
- Diverse portfolio of services
Risks of PhonePe IPO
- High competition in the fintech sector
- Regulatory risks
Anchor Investor Bidding Date
TBA
IPO Registrar and Book Running Lead Managers
- Registrar: TBA
- Book Running Lead Managers: TBA
Business Model
PhonePe is one of the widely used digital payment apps in India. It has also ventured into other services, such as peer-to-peer lending, bill payments, online shopping, and more. It has also expanded its services into credit, insurance, and wealth management with the help of multiple subsidiaries.
Company Growth Trajectory
PhonePe saw a 40% year-on-year rise in revenue at ₹7,115 crore in FY25. It also turned free cash flow positive, with operations generating ₹1,202 crore for the year. The company's adjusted EBITDA (excluding ESOP costs) more than doubled to ₹1477 crores, while adjusted profit after tax surged 220% to ₹630 crore.
Market Position
According to PhonePe's FY24 annual report, as of March 2024, it had approximately 53 crore registered users, with around 20 crore monthly active customers. The report also stated that the company processes over 770 crore transactions monthly, amounting to ₹10.5 lakh crore in total payment value.
PhonePe Profit and Loss (in ₹ crores)
PhonePe Balance Sheet (in ₹ crores)
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Loss Before Tax | TBA | TBA | TBA |
Net Cash Inflow from Operating Activities | TBA | TBA | TBA |
Net Cash Used in Investing Activities | TBA | TBA | TBA |
Net Cash Generated From / (Used in) Financing Activities | TBA | TBA | TBA |
Cash and Cash Equivalents at the end of the year | TBA | TBA | TBA |
How to Check Allotment Status of PhonePe IPO?
1. Visit the Registrar’s Website
Go to the registrar’s website and find the link to know the IPO allotment status. Input your application number, DP ID or PAN to know the status.
2. Check on the NSE Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of the PhonePe IPO. Go to the NSE website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Company name from dropdown
- Application number
- PAN
Then click 'Submit' to know the allotment status.
3. Check on the Bombay Stock Exchange Website
- Go to the BSE website
- Click on ‘Status of Issue Application’ under ‘Investor Services’
- Click on ‘Application Status Check’
- Choose the ‘Issue Type’ and ‘Issue Name’
- Enter either your PAN or Application Number
- Tick the box ‘I’m not a robot’
- Click on ‘Search to view allotment status
How to Apply for PhonePe IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
PhonePe IPO FAQs
What is the PhonePe IPO?
PhonePe is reported to raise ₹12,000 crore through its IPO.
When will the IPO of PhonePe go live?
The exact dates of the IPO are yet to be announced.
Who is the CEO of PhonePe?
Sameer Nigam is the co-founder and CEO of PhonePe.
What is the lot size of shares of PhonePe IPO?
The lot size of shares in the PhonePe IPO is yet to be announced.
From where can I read more about the IPO of PhonePe?
You can read more about the IPO of PhonePe from the company’s draft red herring prospectus here.