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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The company’s IPO plans come amid weak numbers, slow growth of new platforms, challenges in its core payments business and a rather dull stock market.
This year will see one of India’s largest fintech listings. Just last week, PhonePe finally got the market regulator’s nod for an initial public offering, almost four years after the IPO talks first started. At the time, the Bengaluru-based digital payments and financial services startup had just shifted its base from Singapore to India. Yet, for a company that waited so long, PhonePe’s timing doesn’t appear optimal.
For one, the IPO—entirely an offer for sale with an expected valuation of $15 billion—has been announced at a volatile time for stock markets. Frontline indices are down ~5% from their peaks, and …
Billionaire Mohamed Alabbar goes for the Indian Ocean archipelago, India’s PhonePe gets UAE approval, and other updates from the week.
A Rs 10,440 crore share swap with listed Shalimar Paints could give the building materials startup a public market presence without a traditional IPO. But the novel route leaves investors grappling with dilution, valuation and governance concerns.
Europe’s largest fintech firm has its sights set on the Emirates. What can we expect?
