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In the run-up to its $1.2-1.5 Bn public listing early next year, PhonePe
is busy resolving its biggest challenge: wafer-thin margins in its core payments business and the need to build a strong bottomline and a safety net of profits.
The Walmart-owned fintech major, which commands more than 46% of the UPI market, is eyeing a listing at a $12-15 Bn valuation — a whopping 9-23x revenue multiple — in the IPO. More details will be clear when PhonePe’s IPO filing is approved after its confidential filing earlier today.
The company’s…
