India, March 4 -- PhonePe, one of India's leading digital payments platforms backed by Walmart, is gearing up for a highly anticipated initial public offering targeting a valuation of $10.5 billion. The move reflects growing investor interest in India's fintech ecosystem, which has seen rapid adoption of digital payments, wallets, and financial services, positioning the sector as a key driver of innovation and market expansion.

IPO Overview Walmart-backed PhonePe is set to go public in India with a targeted valuation of $9-$10.5 billion, making it the country's second-largest fintech IPO after Paytm's $20 billion listing in 2021. The IPO is expected to raise between $900 million and $1.05 billion, primarily through the sale of shares by ...