Tech
PhonePe files draft IPO papers via confidential route
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PhonePe has filed its draft red herring prospectus (DRHP) with Sebi through the confidential route, a company spokesperson said on Wednesday.
The Walmart-backed digital payments platform narrowed its net loss by 13.4% to Rs 1,727.4 crore in 2024-25, from Rs 1,996.1 crore in 2023-24 backed by a surge in revenue, according to financial statements sourced from the Registrar of Companies.
The operating revenue of the fintech company surged 40.4% to Rs 7,114.8 crore from Rs 5,064.1 crore during this period.
Total expenses, however, shot up 21.1% to Rs 9,394…
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