PhonePe Limited IPO, Open Date, Issue Size, Price Band and UDRHP Filed

PhonePe Limited, India’s one of the leading digital payments and fintech platforms, has taken a major step toward its much-anticipated Initial Public Offering (IPO). As one of the dominant players in India’s UPI-led digital payments ecosystem, the PhonePe IPO has attracted strong interest from retail investors, institutional investors, and market participants tracking upcoming fintech IPOs in India.

PhonePe IPO Date

Current Status: Updated DRHP (UDRHP) Filed with SEBI

PhonePe Limited filed its Updated Draft Red Herring Prospectus (UDRHP-I) with SEBI on January 21, 2026, marking a key milestone in its IPO journey. To read the PhonePe IPO UDRHP click here.

Expected Timeline:

While the exact IPO opening date has not yet been announced, IPOs typically launch within 4–6 months after receiving SEBI approval. PhonePe has proposed to list its equity shares on both the BSE and NSE mainboards, with the designated stock exchange to be announced later.

 PhonePe IPO Date

PhonePe IPO Size

As per the UDRHP, PhonePe Limited IPO will be a pure Offer for Sale (OFS) with no fresh issue component. The offer comprises up to 50,660,446 equity shares of face value Rs 1 each to be sold by existing shareholders.

PhonePe Limited selling shareholders are:

• WM Digital Commerce Holdings Pte. Ltd. (Promoter)
• Tiger Global PIP 9-1 Ltd.
• Microsoft Global Finance Unlimited Company

The promoter's shareholdings before the IPO was 72.68%; however, after the IPO, shareholdings will going to decline.

PhonePe IPO Price Band

Price Band: To be announced

The PhonePe IPO price band and minimum bid lot will be finalised closer to the IPO opening date and disclosed in the RHP. The issue will follow a 100% book-building process, with pricing determined based on investor demand.

 About PhonePe

PhonePe Limited was originally incorporated in 2012 and was later rebranded as PhonePe in 2016. The company was converted into a public limited entity in 2025. PhonePe is promoted by WM Digital Commerce Holdings Pte. Ltd. and Walmart International Holdings, Inc.

Headquartered in Bengaluru, Karnataka, PhonePe operates as a full-stack fintech platform offering digital payments, merchant solutions, wealth management, insurance distribution, lending services, and new digital commerce platforms.

Business Highlights:

• Market Position: One of India’s largest UPI-based digital payments platforms
• Core Strength: Strong dominance in UPI transactions and merchant payments
• Platform Reach: Consumer payments, merchant payments, insurance, lending, and wealth products
• Promoter Backing: Walmart-led promoter group
• Revenue Mix: Majority contribution from payments and financial services distribution

 PhonePe Consolidated Financials

 Conclusion

PhonePe IPO is one of the most closely watched fintech IPOs in India. With the updated DRHP filed in January 2026, investors now have greater clarity on the issue structure, which is entirely an Offer for Sale by existing shareholders.

PhonePe’s leadership in UPI payments, expanding fintech ecosystem, and strong promoter backing provide a compelling long-term growth narrative. However, continued losses and profitability timelines will remain key areas for investor evaluation. As SEBI’s review progresses and the company moves toward filing its RHP, further clarity on pricing, valuation, and IPO dates is expected.

For investors tracking upcoming IPOs in India, PhonePe IPO details, and fintech sector listings, this issue will remain firmly in focus in 2026. Stay connected for PhonePe IPO regular updates here.