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Walmart-backed fintech firm PhonePe has filed for an initial public offering via the confidential route, the company's spokesperson said on Wednesday.

The IPO will raise around 120 billion rupees ($1.35 billion), Moneycontrol reported, citing sources.

A Bloomberg report estimated that PhonePe's upcoming IPO could be valued at $1.5 billion, giving the company an overall valuation of $15 billion.

For the fiscal year ending March 31, 2025, PhonePe reported consolidated revenue of ₹7,115 crore, reflecting a 40% increase from ₹5,064 crore in FY24. Standalone revenue rose 33% to ₹6,544 crore, according to filings with the Ministry of Corporate Affairs (MCA).

Total income for the year reached ₹7,631.38 crore, up from ₹5,722.20 crore

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