New Delhi, March 18 -- Walmart-backed Indian fintech company PhonePe has temporarily halted its initial public offering (IPO) plans due to geopolitical tensions and instability in global capital markets, the firm announced on Monday, March 16.

PhonePe, which operates the most widely used digital payments application in India, intends to continue its listing process once market stability is restored, as stated in a release.

The ongoing conflict in the Middle East has unsettled market sentiment around the globe, leaving investors concerned about the possibility of extended conflicts.

This situation has negatively impacted market launches from Hong Kong to London, with Indian assets facing pressure as the rupee reached all-time lows and t...