Walmart-backed PhonePe seeking to raise $1.5 billion from India IPO: Bloomberg

Walmart-backed Indian fintech firm PhonePe is preparing to file preliminary documents for its initial public offering to raise as much as $1.5 billion, Bloomberg News reported on Monday, citing people familiar with the matter.

The IPO would value PhonePe at nearly $15 billion, the report said, adding that PhonePe is planning to file draft papers for the listing by August.

Both PhonePe and Walmart did not immediately respond to Reuters’ requests for comment.

PhonePe is among the most widely used apps in India to make payments via the country’s popular…