PhonePe IPO Description – PhonePe is India’s largest digital payments platform and a leading technology-driven financial services distributor, operating at a population scale. Founded in 2016 as an early adopter of the Unified Payments Interface (UPI), the company has consistently maintained market leadership in customer-initiated UPI transactions by both volume and total payment value from December 2020 through September 2025, as per NPCI data cited by Redseer.

PhonePe operates a diversified ecosystem anchored by its core payments platform, serving consumers and merchants through the PhonePe Consumer and Business apps. Beyond payments, it has strategically expanded into financial services distribution, including lending, insurance, mutual funds, and stock broking via its Share. Market platform, and into digital infrastructure through Indus Appstore, a Made-in-India Android app store. This multi-platform strategy is underpinned by a flywheel model that leverages scale, transaction data, and user engagement to expand use cases and drive monetisation.

As of 30 September 2025, PhonePe reported a life-to-date registered user base exceeding 618 million and a merchant base of approximately 44.9 million, representing broad penetration across 98.6% of India’s pin codes. The company is India-focused, with 100% data residency, deep integration with India’s digital public infrastructure, and significant exposure to Tier-2 and smaller cities, which accounted for over 65% of its consumer base. Supported by a strong balance sheet, disciplined governance, and a founder-led management team, PhonePe is positioned to sustain leadership in payments while scaling adjacent financial and platform businesses. As of 30 September 2025, the company employed total of 12,338 full-time employees.

Promoters of PhonePe – Wm Digital Commerce Holdings Pte. LTD, Walmart International Holdings

PhonePe IPO Details

PhonePe IPO Allocation in Different Categories

PhonePe Financial Performance

	FY 2023	FY 2024	FY 2025	Q2 FY 2026
Revenue	2,914.29	5,064.13	7,114.86	3,918.47
Expenses	5,906.23	7,754.29	9,394.10	6,069.27
Net income	(2,796.07)	(1,996.17)	(1,727.41)	(1,444.42)
Margin (%)	(95.94)	(39.42)	(24.28)	(36.86)

PhonePe Offer News

PhonePe Valuations & Margins

	FY 2023	FY 2024	FY 2025 (Pre-Issue)	FY 2025 (Post-Issue)
EPS	(68.40)	(45.17)	(37.46)	–
PE Ratio	–	–	–	–

	FY 2023	FY 2024	FY 2025
RONW (%)	(37.85)	(21.41)	(18.43)
Price/Book Ratio
Current Ratio
Price/Sales
NAV	170.00	199.35	182.79
ROCE (%)	–	(18.55)	(25.07)
EBITDA (%)	(12.88)	(12.87)	(20.76)
Debt/Equity	–	–	–

Evaluate the quality of an IPO using these essential investing ratios to make an informed decision.

PhonePe IPO Anchor Investors

PhonePe raises () from anchor investors. PhonePe Anchor bid date is ().

Bid Date	Coming soon
Shares Offered	Coming soon
Anchor Portion (INR Cr.)	Coming soon
Anchor lock-in period end date for 50% shares (30 Days)	Coming soon
Anchor lock-in period end date for remaining shares (90 Days)	Coming soon

PhonePe IPO GMP Today (Daily Trend)

PhonePe IPO Subscription – Live Updates

Coming soon

() shares allotted to anchor investors are not included in these calculations.

PhonePe – Comparison With Listed Peers

Company	PE ratio	EPS	RONW (%)	NAV	Revenue (Cr.)
PhonePe	–	(37.46)	(18.43)	182.79	7,613.38
One 97 Communications	–	(10.35)	(4.41)	235.59	7,624.00

PhonePe IPO Allotment Status

You can check PhonePe IPO allotment status on KFin Technologies Limited website. Click on this link to get the allotment status. Often not getting IPO allotment? Learn how to improve your IPO allotment chances.

PhonePe IPO Dates & Listing Performance

IPO Opening Date	Coming soon
IPO Closing Date	Coming soon
Finalization of Basis of Allotment	Coming soon
Initiation of refunds	Coming soon
Transfer of shares to demat accounts	Coming soon
PhonePe IPO Listing Date	Coming soon
Opening Price on NSE	Coming soon
Closing Price on NSE	Coming soon

PhonePe IPO Reviews – Subscribe or Avoid?

Angel One –
Anand Rathi –
Axis Capital –
Antique Stock Broking –
Arihant Capital –
Ashika Research –
Asit C Mehta –
BP Wealth –
Capital Market –
Canara Bank Securities –
Choice Broking –
Dalal & Broacha –
Elite Wealth –
GCL Broking –
Geojit –
GEPL Capital –
Hem Securities –
ICICIdirect –
Investmentz –
Jainam Broking –
DR Choksey –
LKP Research –
Marwadi Financial –
Motilal Oswal –
Nirmal Bang –
Reliance Securities –
SBI Securities –
Samco Securities –
SMC Global –
Swastika Investmart –
Ventura Securities –

PhonePe IPO Lead Manager

KOTAK MAHINDRA CAPITAL COMPANY LIMITED
27BKC, 1st Floor, Plot No. C–27 “G” Block,
Bandra Kurla Complex Bandra (East), Mumbai 400 051 Maharashtra, India
Tel: +91 22 4336 0000
E-mail: [email protected]
Website: https://investmentbank.kotak.com

PhonePe Offer Registrar

KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com

PHONEPE LIMITED

Salarpuria Softzone, Bellandur Village, Varthur Hobli, Outer Ring Road, Bangalore South, Bangalore 560 103, Karnataka, India
Tel: +91 80 6910 4700
Website: www.phonepe.com
E-mail: [email protected];

IPO Resources

How many shares in the PhonePe IPO are reserved for HNIs and retail investors?

The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.

How to apply in the PhonePe Public Offer?

What is the PhonePe IPO GMP today?

PhonePe IPO GMP today is INR NA per share.

What is the PhonePe kostak rate today?

PhonePe kostak rate today is INR NA per application.

What is PhonePe Subject to Sauda rate today?

PhonePe Subject to Sauda rate today is INR NA per application.

Krishna comes from a family of investors and financial analysts, She learnt wading through regulatory filings pretty early in her career. She has several years of experience in financial and industry analysis under her belt. At IPO Central, Krishna plays twin roles of Contributor and Head of research desk.