PhonePe IPO Delayed Due to Market Volatility

PhonePe, the fintech firm backed by Walmart, has temporarily paused its plans for an Initial Public Offering. Although the company had already received approval from Securities and Exchange Board of India, it decided to delay the listing due to ongoing market volatility triggered by geopolitical tensions. PhonePe CEO Sameer Nigam said the company will restart the listing process once market conditions stabilize and expressed optimism that the situation will improve soon.

Launched in 2016, PhonePe has grown into one of India’s leading digital payment platforms. As of September 30, 2025, the platform has around 650 million registered users and 47 million merchants. Apart from digital payments, PhonePe operates as an insurance aggregator and also runs the stockbroking app Share.Market and the Indus App Store, an alternative platform to the Google Play ecosystem. The company was planning to raise over ₹10,000 crore through the IPO. However, due to ongoing tensions in West Asia, the IPO has been temporarily delayed. Not just PhonePe, several other IPOs are also expected to face delays, with about 141 companies having already received regulatory approval to raise nearly ₹1.64 lakh crore collectively.