: In no hurry to launch IPO, will go public when it makes sense: PhonePe CEO #IndiaNEWS #Business New Delhi: PhonePe is in no hurry to launch its IPO and will go public when it makes sense for the

In no hurry to launch IPO, will go public when it makes sense: PhonePe CEO #IndiaNEWS #Business
New Delhi: PhonePe is in no hurry to launch its IPO and will go public when it makes sense for the company, even as a number of Indian internet companies, including rival Paytm, line up to mark their debut on Dalal Street in the coming months.
The company has just scratched the surface when it comes to financial services and is excited about the prospects in multiple verticals like insurance, PhonePe CEO Sameer Nigam told reporters Thursday.
We have never been in a hurry to get to an IPO. I think this company is in a sector, we are already regulated heavily, and we are getting deeper into financial services. So I think its a foregone conclusion that the right answer for PhonePe someday is to become a public listed companyIm not committing to an IPO date, he said.
He added that the company will think about the IPO when it makes sense and theres a reason for it.
Markets are cyclical, but I think good solid companies will always find a willing marketDo I have any FOMO (fear of missing out) to go IPO, for any reason other than the governance part of it, zero. I will keep saying that every time people ask me, I dont care when a competitor goes public, I wish everyone the best of luck, he added.
Zomato had made a stellar debut on the Dalal Street in July with its shares zooming nearly 53 per cent against the issue price of Rs 76, and its market valuation crossing the Rs 1-lakh-crore mark. Recently, CarTrade also made its debut on the stock market.
A number of internet-led businesses are gearing up to launch their IPOs, including Nykaa, Paytm, PolicyBazaar and Droom.
Nigam said the five-year old company, which has more than 300 million users, said PhonePe had seen significant growth in its mutual funds and insurance offerings. We will be entering and building B2B account aggregator services for the market soon. We are going to enter multiple other verticals. I think that is evolution, thats business model expansion when you start with payments, these are natural adjacencies, he added.
PhonePe has also launched PhonePe Pulse an interactive website with data, insights and trends on digital payments in the country. The website showcases more than 2,000 crore transactions by consumers on an interactive map of India. It has also launched the Pulse Report that reflects the evolution of digital payments over the past 5 years.
The insights on the website and in the report have been drawn from two key sources PhonePes transaction data combined with merchant and customer interviews.
This innovative new product is relevant to multiple ecosystem stakeholders including the government, policy makers, regulatory bodies, media, industry analysts, merchant partners, startups, academic institutions and students.

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