Whalesbook
PhonePe ke co-founders Sameer Nigam aur Rahul Chari ne apni shareholding ka kuch hissa private equity firm General Atlantic ko becha hai. Transaction mein har ek ne 84.2 lakh shares INR 2,338.60 per share ke rate par sell kiye, jiska total INR 3,937.32 crore founders ke liye raha. Ye sale founders ko award schemes ke tehet stock options exercise karne ke baad fresh equity shares allot hone ke kuch time baad hui. General Atlantic Singapore PPIL Pte Ltd. buyer entity thi. Yeh move PhonePe ke Initial Public Offering (IPO) ki taiyariyon ke beech aaya hai.
PhonePe ko India ke sabse bade fintech listings mein se ek ke liye ek bade hurdle ko clear karte hue, SEBI se uske proposed IPO ke liye approval mil gaya hai. Company ne September 2025 mein confidential DRHP file kiya tha aur baad mein January 2026 mein updated DRHP file kiya. Ye offering poori tarah Offer for Sale (OFS) hogi, jismein approximately INR 12,000 crore ($1.5 billion) raise karne ka aim hai. PhonePe ki expected valuation around $15 billion hai. Walmart, Microsoft, aur Tiger Global jaise major investors apne holdings ka kuch portion divest karne ki ummeed hai, jismein Walmart apne stake ka approximately 9.06% sell karne ki planning kar raha hai. Microsoft Global Finance Unlimited Company aur Tiger Global PIP 9-1 apne holdings se poori tarah exit karne wale hain.
Fiscal year 2026 (H1 FY26) ke pehle half mein, PhonePe ka operating revenue 22% badhkar INR 3,918.5 crore ho gaya. Lekin, company ka net loss year-on-year 20% badhkar INR 1,444.4 crore ho gaya. Losses mein yeh badhotari expenses mein increase ke karan hui, jismein employee benefits aur payment processing charges shamil hain. Fiscal year 2025 (FY25) ke liye, PhonePe ne 40.5% revenue increase INR 7,114.8 crore report kiya, jabki uska net loss 13.5% kam hokar INR 1,727.4 crore ho gaya. Company ke real money gaming (RMG) revenue mein H1 FY26 mein regulatory changes ke karan kami aayi, lekin isne overall revenue par koi significant impact nahi dala.
IPO preparations se pehle, PhonePe ne INR 700 crore se INR 800 crore ke beech valued ek ESOP buyback program bhi kiya, jisse 1,000 se zyada employees ko fayda hua. General Atlantic, jo ek existing investor hai, ne late 2025 mein around $600 million invest karke PhonePe mein apna stake badhaya, jo ab approximately 9% ho gaya hai. Yeh transaction primarily employees ko stock options exercise karne ke liye liquidity provide karne aur associated tax liabilities ko cover karne ke liye thi, na ki company ke liye fresh capital raise ke liye. PhonePe India ke Unified Payments Interface (UPI) ecosystem mein dominant position maintain karta hai, jismein transaction volume ke hisab se lagbhag 45-48% market share hai.