India’s digital payments major PhonePe has taken a decisive step towards the public markets by filing an updated Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). Notably, the proposed IPO will be a pure Offer For Sale (OFS), meaning the company itself will not raise any fresh capital from the listing.
The move places PhonePe firmly among the most closely watched new-age tech companies preparing for the bourses, as India’s IPO market gradually reopens to consumer internet and fintech firms after a period of volatility and cautious investor sentiment.
OFS-Only Structure Signals Maturity
According to
...
