PhonePe Eyes Rs 10,115 Cr IPO After Capturing 46.2% of UPI Volume

Walmart-backed PhonePe, named FE's best fintech payment platform, processes 23 billion monthly UPI transactions and commands 49.3% value share. The 700-million-user firm plans a Rs 10,115 crore OFS while diversifying into lending, insurance and wealth, with 56 lending partners and an RBI direct-lending licence in pursuit.

— Source publishedFri, 5 Jun, 2026, 06:00 IST·First seen Fri, 5 Jun, 2026, 06:27 IST·Source Financial Express · BrandWagon

What happened

PhonePe named best fintech payment platform at FE Best Bank Awards 2026, holding 46.2% UPI volume share. Walmart-backed firm plans Rs 10,115 crore IPO via OFS

Key facts

  • 23 billion monthly UPI transactions
  • Rs 29.9 lakh crore
  • 46.2% volume share
  • 49.3% value share
  • Rs 10,115 crore OFS
  • 50.7 million shares
  • 80% revenue from payments
  • 11.55% from financial services
  • 700 million users
  • 56 lending partners

Why this matters

PhonePe's 56 lending partnerships and pending RBI direct-lending licence make it both a critical distribution channel to court and an expanding competitor in adjacent financial services—lock in partnership terms before the IPO repricing.

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