PhonePe, a leading digital payments and financial services platform in India, is gearing up for a public debut. Owned by Walmart and headquartered in Bangalore, the company has filed confidential draft papers with India’s market regulator, SEBI, to raise $1.35 billion through a pure offer for sale (OFS). This method,...
India to Have Record Number of IPOs in 2024 – [Cloned #76129]
India has seen a significant surge in initial public offerings (IPOs) over the past year, with 2023 hitting a nine-year high of 238 IPOs raising $7.35 billion. Lesser known companies in sectors such as pharmaceutical's Delhi-headquartered Mankind Pharma's listing, have rekindled interest in IPOs by offering steady revenue growth and...
India to Have Record Number of IPOs in 2024
India has seen a significant surge in initial public offerings (IPOs) over the past year, with 2023 hitting a nine-year high of 238 IPOs raising $7.35 billion. This IPO boom shows no signs of slowing down, with 130 new listings and 313 billion rupees raised so far in 2024. Lesser...
India Expected to Overtake China to Become Walmart’s largest International Market
During Walmart’s yearly institutional investors call, CFO and executive vice president John David Rainey stated, “I believe India is going to be the largest (International) market in the world this year, surpassing China. It’s a really promising opportunity in the future.” Bentonville, Arkansas-headquartered Walmart, is the majority owner of Flipkart,...
Walmart International’s India Business on Growth Trajectory
Bentonville, Arkansas-based Walmart's two acquisitions in India -- e-commerce firm Flipkart and digital payments firm PhonePe -- have emerged stronger with the adoption of digital technologies during the coronavirus health crisis in India. The company also operates a small chain of "wholesale stores" in India, which sell to the retail...