# Walmart-backed PhonePe targets up to 10.5 billion valuation in India IPO: Report.

*fintech · news · 2026-03-05 · Times Now*

## Key points

- PhonePe plans to go public at a valuation between $9 billion and $10.5 billion.
- Walmart will reduce its stake by about 12% during the IPO, while Tiger Global and Microsoft plan full exits.
- The IPO will not issue new shares, focusing instead on existing investors selling around 50.7 million shares.
- PhonePe's losses increased to $158 million in six months, despite a 22% revenue rise.
- PhonePe's IPO valuation is lower than its previous $12 billion private market valuation in 2023.

**Companies:** Walmart, Microsoft, PhonePe, Tiger Global
**Countries:** India, United States

[Read the full story on Times Now](https://www.timesnownews.com/business-economy/markets/after-paytm-walmart-backed-phonepe-eyes-indias-second-biggest-fintech-ipo-at-up-to-10-5-billion-valuation-article-153757182)

---

Canonical: https://newsio.io/n/37d0ab2d-c650-4100-94c2-d49e3fb74811/walmart-backed-phonepe-targets-up-to-10-5-billion-valuation-in-india-ipo-report
Summarized by Newsio from Times Now. https://newsio.io/how-it-works