PhonePe has temporarily delayed its IPO plans amid rising global market volatility linked to geopolitical tensions in the Middle East.
The fintech major, backed by Walmart, was aiming for a valuation of around $9 billion to $10.5 billion, making it one of India’s most anticipated public listings.
However, ongoing conflicts and uncertainty have weakened investor sentiment, with stock markets witnessing declines and significant capital outflows. This has impacted IPO activity across sectors.
The company stated that it remains committed to going public but will resume the IPO process once market conditions stabilise.
PhonePe’s decision reflects a broader trend, as several companies are reconsidering IPO timelines due to global economic uncertainty and volatile equity markets.
