July 08, 2025 09:42 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Indian nurse Nimisha Priya, on death row for murder in Yemen, to be executed on July 16 | Fatal Air India plane crash preliminary report submitted to government | MNS workers out to oppose protests against slapgate incident detained | Social media influencer files complaint against MNS leader's son for ramming car into her vehicle in drunken state | Bihar businessman Gopal Khemka murder accused killed in police encounter in Patna | PM Modi meets Uruguay President on sidelines of 17th BRICS Summit in Rio de Janeiro | PM Modi meets Bolivian President on the sidelines of BRICS in Rio de Janeiro | Supreme Court refuses interim stay on Election Commission's voter list revision drive in Bihar, hearing on Thursday | Khalistani terrorist Harpreet Singh alias Happy Passia, responsible for terror attacks in Punjab, brought to India from US: Report | Calcutta HC dismisses medical council's order suspending TMC leader Dr. Santanu Sen
Walmart

Walmart's stake in fintech subsidiary PhonePe drops to 85%

| @indiablooms | Jun 05, 2023, at 07:14 pm

Retail behemoth Walmart’s shareholding in fintech company PhonePe has dropped from 89 percent to 85 percent amid the latter’s fundraise of $1 billion, media reports said.

As of the end of May, PhonePe has accumulated a total of USD 850 million in primary capital during the current funding round.

"During the three months ended April 30, 2023, the company received USD 0.5 billion related to new rounds of equity funding for the company's majority-owned PhonePe subsidiary, which reduced the company's ownership from approximately 89 percent as of January 31, 2023, to approximately 85 percent," Walmart said in a latest regulatory filing.

By April 30, PhonePe, a subsidiary of the Walmart group, had raised a total of USD 750 million, which includes a capital infusion of USD 200 million from Walmart.

During the ongoing funding round of PhonePe, General Atlantic and its co-investors have contributed USD 550 million at a pre-money valuation of USD 12 billion. Additionally, Ribbit Capital, Tiger Global, and TVS Capital Funds have invested USD 100 million in the company.

Pre-money valuation refers to the estimated value of a company or startup, based on its current assets, performance, market potential, and other factors before it receives any external funding or investments.

Pre-money valuation is typically used as a reference point for determining the ownership stake that investors will receive in exchange for their investment.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
RBI announces repo rate cut Jun 06, 2025, at 10:51 am
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu