IPO Plans for Flipkart and PhonePe

If you’re eagerly awaiting the IPOs of Flipkart and PhonePe, here’s the latest update. According to a Walmart official, both companies may launch their IPOs in the coming years. However, PhonePe’s IPO is expected to precede Flipkart’s.

PhonePe’s Potential IPO

Dan Bartlett, Walmart’s Executive Vice President of Corporate Affairs, revealed to Reuters that PhonePe’s IPO might hit the market before Flipkart’s.

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Bartlett highlighted PhonePe’s significance as one of India’s leading payment platforms, particularly its integration with the Unified Payments Interface (UPI).

He emphasized that various procedures need to be followed before PhonePe’s IPO can be launched.

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Evaluation Insights

As of January 31, 2024, Flipkart was valued at $35 billion following an equity transaction by Walmart, increasing its stake to around 85%.

Despite reporting a loss of Rs 4,846 crore in FY 2022-23 against a revenue of Rs 56,012.8 crore, Flipkart remains a significant player in the e-commerce landscape.

On the other hand, PhonePe showcased impressive growth with a 77% increase in revenue for the financial year 2023, accentuating its focus on international expansion.

Google’s Interest and Flipkart’s Evaluation

This announcement coincides with Google’s intention to acquire a stake in Flipkart, with a proposed investment of approximately $350 million.

As of January 31, 2024, Flipkart’s valuation stood at US$35 billion, following a transaction where Walmart augmented its stake by 10%, reaching around 85%.

Despite Flipkart reporting a loss of Rs 4,846 crore against a revenue of Rs 56,012.8 crore in FY 2022-23, its growth trajectory remains promising.

PhonePe’s Growth

In October 2023, PhonePe announced a remarkable 77% revenue growth for the fiscal year 2023. The company has been keen on expanding its business, venturing into several foreign markets.

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