PhonePe files confidential DRHP with SEBI for Rs 12,000 Cr IPO

Walmart-owned fintech giant PhonePe has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) through the confidential route, setting the stage for one of the most anticipated IPOs in the Indian tech space.

The Bengaluru-based firm has taken advantage of SEBI’s confidential filing mechanism, introduced last year, which allows companies to keep sensitive financial and strategic details under wraps until closer to listing.

The company is reportedly looking to raise Rs 12,000 crore through its IPO….