India, March 5 -- Fintech major PhonePe is planning to open its IPO by next month, contingent on how the currently tense geopolitical situation unfolds.

Citing sources, Reuters reported that the Bengaluru-based startup is likely to raise between $900 Mn to $1.5 Bn through the public listing, which only has an offer-for-sale component. The IPO will value PhonePe between $900 Mn to $10.5 Bn - lower than the $12 Bn valuation at which it last raised $100 Mn in equity funding in 2023.

Overall, the startup has raised nearly $2.3 Bn to date.

Notably, PhonePe is not raising new funds through the IPO and only providing exit liquidity to selling shareholders, including its parent entity Walmart.

Walmart is trimming its stake by approximately 12...