Walmart, Tiger Global to offload stakes worth ₹10k cr in PhonePe IPO
PhonePe shareholders -- Walmart, Tiger Global and Microsoft Global Finance will offload stakes through the company's forthcoming IPO
 "Walmart, Tiger Global to offload stakes worth ₹10k cr in PhonePe IPO")
PhonePe shareholders -- Walmart, Tiger Global and Microsoft Global Finance will offload stakes worth around Rs 10,115 crore through the company's forthcoming IPO, according to updated draft papers of the fintech firm.
The IPO is entirely an Offer-for-Sale (OFS) by existing shareholders.
The company will not be raising any additional primary capital in the Initial Public Offering (IPO).
PhonePe promoter WM Digital Commerce Holdings Pte will sell 45,942,496 of 3,71,517,890 shares or about 0.12 per cent stake in the company through the OFS valued at Rs 1,996.8 per share, based on the weighted average cost of acquisition per equity share.
Singapore-based WM Digital Commerce Holdings Pte. Ltd is the Walmart-controlled promoter entity of PhonePe.
Tiger Global PIP 9-1 will sell 10,39,160 shares, and Microsoft Global Finance Unlimited Company will offload 36,78,790 shares.
The total shares to be offloaded through the OFS are valued around Rs 10,115.87 crore based on the weighted-average cost of acquisition per equity share.
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