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Digital payments and financial services platform PhonePe is gearing up for a $1.5-billion initial public offering (IPO) later this year. The Walmart-backed company has tapped Kotak Mahindra Capital, JPMorgan Chase, Citigroup and Morgan Stanley to arrange the offering.
Key details:
Draft paper filing: The company may file its draft red herring prospectus (DRHP) by August.Target raise: It plans to raise around $1.5 billion through the listing, which is approximately Rs 13,000 crore, as per a Bloomberg report.
Valuation: This would value the company at $15…
