Walmart-backed fintech giant PhonePe has filed the updated draft red herring prospectus (UDRHP) with SEBI for its IPO, which will comprise only an offer for sale (OFS).
The Bengaluru-based company’s investors will offload up to 5.06 Cr equity shares via the IPO. While promoter Walmart’s WM Digital Commerce Holdings plans to sell 4.59 Cr shares through the OFS, Tiger Global and Microsoft will sell 10.39 Lakh and 36.78 Lakh shares, respectively.
The development comes a day after PhonePe received SEBI’s approval for its public listing.
The fintech major pre-filed its DRHP in September last year. It was said to be looking to raise INR 12,000 Cr ($1.35 Bn) via the offer for sale (OFS) at a valuation of about $15 Bn.
(The story will be updated soon)
The post PhonePe Files Updated DRHP For OFS-Only IPO appeared first on Inc42 Media.
https://ift.tt/UWLHVRl
0 Comments