BusinessPEER-SOURCE NEWS REPORT
PhonePe gets SEBI approval for IPO; issue expected to be an OFS with major shareholders trimming stakes
Digital payments major PhonePe has received SEBI’s go-ahead for its IPO. Reports say it is likely to be a pure offer-for-sale (no fresh issue), with existing shareholders expected to pare holdings as the company moves to file updated draft papers.
- Reporting desk
- Health India Network News Desk
- First published
PhonePe has received regulatory approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering, according to reports published on January 20, 2026.
The proposed listing is reported to be structured as an offer for sale (OFS), meaning existing shareholders would sell a portion of their holdings while the company would not raise fresh primary capital through a new share issue.
What happens next
- The company is expected to file updated draft documents as part of the next step in the IPO process.
- The IPO is being watched as a major public-market test for India’s consumer fintech and UPI ecosystem.