Digital payments firm PhonePe gets Sebi approval for $1.5-billion IPO

PhonePe has received Sebi approval for its $1.5 billion IPO, which could value the Walmart-backed fintech at around $15 billion. The company, a market leader in UPI payments, has expanded into credit, insurance, and stockbroking. Last year, it narrowed losses and grew revenue 40%, highlighting strong financial momentum.