New Delhi, Sept. 16 -- PhonePe Ltd is evaluating options to restart its initial public offering (IPO) process after the National Payments Corporation of India (NPCI) introduced a 0.4% merchant discount rate (MDR) on large UPI transactions effective next month, according to two people familiar with the matter. MDR is the fee collected from merchants for processing digital payment transactions.

While a share sale is not likely anytime soon, the notification on transaction fee parameters provides structural clarity that facilitates a path to public equity markets, these people said, asking not to be identified as the details are private.

PhonePe plans to submit updated financial metrics with the Securities and Exchange Board of India (Sebi...