PhonePe Gets SEBI Nod for IPO; UDRHP Expected
Why in the news
SEBI cleared PhonePe to proceed with its public issue, opening the way for one of India’s most awaited fintech listings.
Key facts
- Approval: SEBI. Next step: UDRHP filing.
- Market position: over 45% of UPI transactions.
- Offers UPI payments, wallets and financial services such as insurance, investments and lending.
About an IPO
- A private company sells shares to the public for the first time and lists on BSE and NSE.
- Purposes: raise funds, give promoters and early investors an exit, build visibility, enable later fundraising.
IPO process
- Appoint merchant bankers.
- File DRHP with SEBI.
- SEBI scrutiny and approval.
- Price discovery.
- Issue opens and closes.
- Allotment and listing.
| Issue type | Pricing |
|---|---|
| Fixed price | Set in advance |
| Book building | Price band; final price found via bids |
Exam angle
- Document: UDRHP.
- Regulator: SEBI.