Bhubaneswar: PhonePe Limited a technology company that builds digital platforms for Payments services, Digital Distribution Services and Financial Services filed its UDRHP-I with SEBI.
Through the Platform the company offers Consumer Payments, Merchant Payments and Lending Distribution and Insurance Distribution services. Company has also built and is rapidly scaling two New Platforms: (i) Share.Market, the company’s stock broking and mutual funds distribution platform and (ii) Indus AppStore, a mobile app marketplace. Its platforms are built on award-winning scalable technology stack that provides reliability, scalability, security and cost efficiency across its platforms and new use cases.
The offer comprises of an offer for sale of upto 50,660,446 Equity Shares by the selling shareholders. The face value of each share is ₹1.
Following the pilot launch of Unified Payments Interface (“UPI”) in April 2016, the company became India’s first private non-bank player to launch a UPI-based application in August 2016, as per National Payments Corporation of India data, according to the Redseer Report. The company is India’s largest digital payments platform, with sustained leadership in market share from December 2020 to September 2025 in terms of the number of transactions and total payments value (“TPV”) for customer-initiated UPI transactions, as per NPCI data, according to the Redseer Report. The company has a registered user base of 657.56 million and a registered merchant base of 47.19 million as of September 30, 2025.
Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited and JM Financial Limited are the book running lead managers to the issue.
The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges, being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” and together with BSE, the “Stock Exchanges”).
