What led to PhonePe delaying its IPO? Beyond war, valuation a major concern: sources

PhonePe has postponed its $1.3 billion IPO due to volatile markets, valuation concerns and geopolitical tensions. The Walmart-owned firm, valued at nearly $15 billion, saw investor interest closer to $7 billion. Competition with Paytm and regulatory headwinds also affected its profitability outlook and listing timing.