Indian digital payments provider PhonePe, which is majority owned by Walmart (WMT), is readying preliminary documents for an initial public offering in India that could raise up to $1.5B, reported Bloomberg’s Rajesh Mascarenhas and Baiju Kalesh, citing sources familiar with the matter. The offering would value the fintech company at about $15B and PhonePe is planning to submit a draft prospectus for the listing by as early as August, the report added.
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