<ul><li>PhonePe, the Walmart-backed digital payments firm, has converted into a public limited company as it prepares for an IPO in India.</li><li>The change from PhonePe Private Limited to PhonePe Limited was approved in an extraordinary general meeting on April 16.</li><li>PhonePe has engaged Kotak Mahindra Capital, JP Morgan, Citi, and Morgan Stanley for its IPO, targeting a valuation of around $15 billion.</li><li>PhonePe commands nearly half of India's UPI market and reported a 73% YoY growth in revenue in FY24.</li></ul>

UPI payments giant PhonePe converts into a public limited company ahead of IPO

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