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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The company’s IPO plans come amid weak numbers, slow growth of new platforms, challenges in its core payments business and a rather dull stock market.
This year will see one of India’s largest fintech listings. Just last week, PhonePe finally got the market regulator’s nod for an initial public offering, almost four years after the IPO talks first started. At the time, the Bengaluru-based digital payments and financial services startup had just shifted its base from Singapore to India. Yet, for a company that waited so long, PhonePe’s timing doesn’t appear optimal.
For one, the IPO—entirely an offer for sale with an expected valuation of $15 billion—has been announced at a volatile time for stock markets. Frontline indices are down ~5% from their peaks, and …
Frequent portfolio reshuffles and primary market allocations have driven returns. The question is whether this approach can hold up over the long term.
A market dominated by speculative activity is enriching sophisticated traders at the expense of retail investors, distorting exchanges and brokerages, and putting household savings at risk.
The UAE is looking at its first public listing of the year while Egypt just delivered a big one; OpenAI’s bugging accused has ties to Saudi Arabia; and other updates from the week.
