India, Feb. 23 -- Ola Electric, Swiggy and now PhonePe. Another IPO from Bengaluru is all set to grab the limelight, as the fintech giant announced its plans this past week.

With no major movement in the stock market and listed new-age tech companies, PhonePe's press announcement about its upcoming IPO was not only the biggest piece of news but also unusual because it came out of nowhere.

Of course, we knew that PhonePe was on course to hit the public markets for some time now, but the company had always maintained that it needed clarity on the UPI transaction share being the market leader in UPI payments.

But with the current fiscal year about to end, PhonePe felt confident enough to declare its IPO plans for the first time ever.

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