PhonePe moves domicile from Singapore to India ahead of IPO

Ahead of its plan to launch an initial public offering (IPO), Walmart and Flipkart-owned PhonePe has shifted its domicile from Singapore to India. Over the past year, PhonePe shifted all businesses and subsidiaries of PhonePe Singapore to PhonePe Pvt Ltd (India), along with creating a new employee stock ownership plan (ESOP). PhonePe is aiming to go public by 2023.