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According to the sources, the company will soon engage with bankers and legal consultants to take forward the IPO (Initial Public Offering) process.
Also, the company has initiated plans to move its registered holding entity from Singapore to India, underlining its 'made in India' credentials. PhonePe's board has already ratified the proposal to move the holding company to India.
The company will list on Indian stock exchanges as opposed to many startups that prefer to incorporate overseas, primarily Singapore or the US, chasing relatively friendlier tax laws and business regulations there.
PhonePe was founded by ex-Flipkart executives Sameer Nigam<\/a>, Rahul Chari and Burzin Engineer, and was acquired by Flipkart in 2016. In 2018 Flipkart was acquired by Walmart, and PhonePe was part of the transaction as well.
The company plans to go public once its core businesses turn profitable, which it hopes to achieve by 2023, investment banking sources said.
In addition, PhonePe plans to raise its workforce strength to 5,200 by the end of December to ride on the growing UPI-based transactions in India.
The company has 2,600 employees and 2,800 open job positions across cities such as Bengaluru, Pune, Mumbai and Delhi.
PhonePe had last raised USD 700 million in 2020 led by its promoters Flipkart and Walmart at a valuation of USD 5.5 billion. The digital payment company has raised a total of USD 1.7 billion in funding over 13 rounds that includes Tiger Global Management and Tencent as investors.
The company has applied for a mutual fund license and a Non-Banking Financial Company (NBFC) licence and has acquired three companies -- WealthDesk, OpenQ and GigIndia. PhonePe is the leader in the UPI space, enjoying a 47 per cent market share in monthly transactions.
At present, PhonePe holds a mutual fund distribution licence, and will be adding stocks and exchange traded funds to its growing list of wealth management products.
It announced that it will launch UPI SIP (Systematic Investment Plan) for investment in gold. Users will be able to invest in high purity 24K gold of a specified amount every month. The gold can be accumulated in their insured bank-grade lockers, maintained by MMTC-PAMP and SafeGold.
PhonePe was also in the process of integrating its processes with the Open Network for Digital Commerce (ONDC) pilot, India's indigenously created open source e-commerce network, with real-time transactions in the retail and food delivery space starting in some cities.
Under ONDC, real-time transactions in the retail and food delivery space have started in some cities such as Shillong and Delhi. Currently, ONDC is focusing more on retailers and restaurants.
Recently, a number of internet-led businesses launched their IPOs, including Zomato, CarTrade, Nykaa, Paytm and PolicyBazaar.<\/body>","next_sibling":[{"msid":92241899,"title":"View: 5G spectrum, split circles, cut the knot","entity_type":"ARTICLE","link":"\/news\/view-5g-spectrum-split-circles-cut-the-knot\/92241899","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":92241918,"entity_type":"ARTICLE","title":"PhonePe prepping for IPO; seeks valuation of $8-10 billion","synopsis":"Also, the company has initiated plans to move its registered holding entity from Singapore to India, underlining its 'made in India' credentials. PhonePe's board has already ratified the proposal to move the holding company to India.","titleseo":"telecomnews\/phonepe-prepping-for-ipo-seeks-valuation-of-8-10-billion","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":123,"shares":0,"engagementtimems":549000},"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2022-06-16 07:40:57","lastupd":"2022-06-16 07:42:42","breadcrumbTags":["Phonepe IPO","sameer nigam","initial public offering","united payments interface","MVAS\/Apps","Phonepe","Flipkart"],"secinfo":{"seolocation":"telecomnews\/phonepe-prepping-for-ipo-seeks-valuation-of-8-10-billion"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2022-06-16" data-index="article_1">
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PhonePe准备上市;寻求8 - 10美元的估值
此外,该公司已开始将其注册控股实体从新加坡到印度,突显出其“印度制造”的凭证。PhonePe董事会已经批准了印度提议将控股公司。
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消息人士称,公司将很快与银行家和法律顾问继续推进IPO(首次公开募股)的过程。
此外,该公司已开始将其注册控股实体从新加坡到印度,突显出其“印度制造”的凭证。PhonePe董事会已经批准了印度提议将控股公司。
该公司将在印度上市证券交易所与许多公司喜欢将海外,主要是新加坡或者美国,追逐相对友好的税收法律和商业法规。
PhonePe成立了ex-Flipkart高管Sameer尼噶的拉胡尔沙里河和Burzin工程师,并在2016年被Flipkart公司收购。Flipkart公司在2018年被沃尔玛收购,PhonePe也是交易的一部分。
该公司计划上市一旦其核心业务实现盈利,它希望到2023年实现,投资银行业消息人士表示。
此外,PhonePe计划提高员工的力量到5200年底12月骑在印度日益UPI-based交易。
打开公司有2600名员工和2800个工作岗位在班加罗尔等城市,浦那、孟买和德里。
PhonePe已经在2020年筹集了7亿美元由发起人Flipkart公司和沃尔玛的估值55亿美元。数字支付公司筹集了总计17亿美元的资金了13轮,包括老虎全球管理和腾讯作为投资者。
公司已经申请了共同基金执照和非银行金融公司(NBFC)执照,并收购了三家公司——WealthDesk OpenQ GigIndia。PhonePe是领袖UPI空间,享受月度交易47%的市场份额。
目前,PhonePe持有共同基金销售牌照,并将增加股票和交易所交易基金越来越多的理财产品。
它宣布将推出UPI SIP(系统的投资计划)投资黄金。用户将能够投资于高纯度24 k金每月指定的数量。黄金可以积累他们的保险bank-grade储物柜,由MMTC-PAMP和SafeGold维护。
PhonePe也在整合的过程中数字商务流程与开放网络(ONDC)试点,印度的自主创建开源电子商务网络,实时事务在零售和食品交付空间在一些城市开始。
ONDC下,实时事务在零售和食品交付空间已经开始在一些城市如西隆和德里。目前,ONDC更多关注零售商和餐馆。
最近,许多internet-led企业推出了ipo,包括Zomato CarTrade, Nykaa, Paytm PolicyBazaar。
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