India, Feb. 20 -- Fintech giant PhonePe has kicked off preparations for its initial public offering (IPO) and its impending public listing amid a boom in new-age tech IPOs in the country.

The digital payments company announced on Thursday (February 20) that it is commencing preparatory steps in connection with its potential IPO and plans to list on Indian exchanges.

"PhonePe has long aspired to be a public company in India, having been founded here and being a leader in India's fintech industry," it said in a statement.

However, there is no clarity about PhonePe's IPO size, valuation, and timeline.

It is pertinent to mention that PhonePe cofounder and CEO Sameer Nigam said last year that the company could not float an IPO until there ...