PhonePe delaying IPO not just over Middle East war but also due to valuation issues: Report

PhonePe postponed its IPO not only because of market volatility caused by Middle East war but also because of mismatch in valuation expectations, Moneycontrol reported. Domestic mutual fund houses suggested a valuation in mid to upper end of $6-9 billion, with recent suggestions of $7 billion. This was half of the $15-billion valuation PhonePe had after its last funding round.