PhonePe eyes IPO by March 2027 after UPI MDR clarity

Following the introduction of a new MDR regime for UPI payments, PhonePe has revived its IPO plans and aims to list in February–March 2027, according to Inc42. The company expects to refile documents by the end of the year and targets a $10 billion valuation.

• Listing planned for February–March 2027
• IPO valuation expected around $10 billion
• Documents planned to be refiled by end of 2026
• MDR of 0.4% for UPI merchant payments over ₹2000 starts October 15