PhonePe Pvt. Ltd has received a ₹150 crore fund infusion from its Singapore based parent, according to documents sourced from business information platform Tofler.As part of the transaction, close to 198,755 shares were allotted to PhonePe Pte Ltd. According to regulatory filings on Accounting and Corporate Regulatory Authority, Singapore, this is part of a fund infusion into PhonePe Pte Ltd by majority shareholder Flipkart Pvt. Ltd, Singapore, which owns close to 87% in the payments firm.
The fund infusion is independent of the $700 million PhonePe is raising, which will be led by Walmart and minority investors such as Tiger Global Management.Post the fund raise, PhonePe will be valued at $5.5 billion, with Walmart owning 10% and other minority investors who will hold the remaining 3%.
Courtesyg: Google (photo)
