PhonePe is aiming to raise around ₹12,000 crore at an estimated valuation of about $15 billion (₹1.35 lakh crore). At this ...

If PhonePe is able to secure that valuation, it would be worth 60–90% more than its closest rival. Interestingly, PhonePe is ...

At that valuation, PhonePe would be worth 60-90% more than Paytm, despite being EBITDA negative, while Paytm is EBITDA positive ...

The fintech giant dominates the Unified Payments Interface ecosystem, with over 45 per cent market share as a third-party ...

PhonePe’s lofty IPO valuation makes Paytm appear attractive on paper, but market share gaps, rising competition and already-rich multiples could limit any re-rating.

According to Macquarie, PhonePe's proposed listing will be watched closely for its potential read-through on Paytm's (One 97 Communications) valuation and near-term re-rating ...

Macquarie notes that this valuation gap is notable, given that PhonePe remains EBITDA-negative, while Paytm has turned EBITDA-positive ...

PhonePe's implied valuation stands in the $13-15 billion range, which is about 60-90% higher than Paytm's current market capitalisation, despite PhonePe being EBITDA-negative, while Paytm has turned ...

Discover Bernstein's top 3 insights for investors as PhonePe gears up for its much-anticipated 2026 IPO — read the critical details now!

Macquarie raises concerns about PhonePe's ESOP costs and revenue concentration ahead of its IPO. High ESOP expenses impact EBITDA margins, and regulatory changes could reduce revenues by 20-25%.

Overseas brokerage firm Macquarie believes that the recent draft red herring prospectus (DRHP) filed by PhonePe can reshape the fintech valuation, particularly its listed peer Paytm.