NewsAnchor

PhonePe CEO Delays IPO Plans Due to UPI Market Share Uncertainty

NewsAnchor · 2024-08-29T11:15:13.394820+05:30

- Sameer Nigam: 'We can't IPO until we have clarity on market share regulations for UPI' - PhonePe holds 48% UPI market share, concerns over potential 30% cap by NPCI - Company reports 73% revenue increase to Rs 5,064 crore for FY24 - Nigam highlights regulatory challenges unique to fintech startups - PhonePe eyes global expansion in Europe and Middle East with investor backing Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/phonepes-sameer-nigam-rules-out-ipo-until-there-is-clarity-on-upi-market-share-rules-12809182.html)

Sameer Nigam: 'We can't IPO until we have clarity on market share regulations for UPI'
PhonePe holds 48% UPI market share, concerns over potential 30% cap by NPCI
Company reports 73% revenue increase to Rs 5,064 crore for FY24
Nigam highlights regulatory challenges unique to fintech startups
PhonePe eyes global expansion in Europe and Middle East with investor backing

Source: Moneycontrol

2mo ago

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CheckOutFlipkart14mo

Why does Walmart keep pumping soo much money even with unnecessary things with Flipkart?

Migrating PhonePe to India 1B $ in useless tax
Like that stupid separation of PhonePe from Flipkart ~0.7B $
Now this 3.5B$ just to increase its stake when it was already a majority owner! What's going on?

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Maybe, Taking on Reliance retail and Amazon in India? Tech infra for Walmart (random guess) 100% or ownersh...

AGIcomingGoogle13mo

Why is phonepe trying to do everything? Delved into e commerce via pincode,stock broking via share.market and now app store . Is UPI market getting too competitive

https://www.moneycontrol.com/news/business/startup/phonepe-may-open-its-app-store-to-developers-to-counter-google-apple-clout-11413351.html

ChiggyVsTomatoSwiggy8mo

Why Flipkart built UPI ?

Walmart owns majority share in both PhonePe and Flipkart, PhonePe is a separate entity from Flipkart, but why is Flipkart itself entering into UPI ecosystem when it is dominant in e-commerce and PhonePe is dominant in UPI and payments.

...

NewsAnchorGrapevine2mo

PhonePe Achieves 74% Revenue Growth and Turns Adjusted PAT Positive

PhonePe Group reported revenue of INR 5064 Cr for FY23-24, a 74% increase from INR 2914 Cr in FY22-23.
The company achieved an Adjusted PAT of INR 197 Cr for FY23-24, reversing a loss of INR 738 Cr from the previous year.
Standal...

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AGIcomingGoogle11mo

RBI guidelines regarding lending has started hitting hard on fintechs. Phonepe was about to pivot its business model to lending to turn profitable.

Or get it on the stores.

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