PhonePe raises ₹742 crore from Singapore-based parent: Report

Flipkart-owned digital payments platform PhonePe has reportedly received a fresh capital infusion of about ₹742 crore from its Singapore-registered parent entity PhonePe Pvt Ltd. In a regulatory filing, the Walmart-backed company’s board passed a resolution to allot a total of 3,71,753 equity shares at ₹19,968 apiece. PhonePe also reported a standalone revenue of ₹1,640 crore for FY22.