New Delhi, Jan. 30 -- Following the recent nod from the Securities and Exchange Board of India (SEBI), PhonePe has presented its Updated Draft Red Herring Prospectus (UDRHP), bringing it closer to its highly awaited public listing. The company, which initially submitted confidential IPO documents in September 2024, is now anticipated to launch on the markets shortly.

According to the UDRHP, the public offering will consist of an offer for sale (up to 50,660,446 equity shares), spearheaded by the majority stakeholder Walmart along with other notable investors like Tiger Global and Microsoft.

PhonePe leads the UPI sector in India, holding over 48% of the market share by transaction value, having processed 9.8 billion transactions in Decem...