India's payment aggregators are intensifying merchant acquisition across MSMEs, D2C, quick commerce and cross-border, shifting monetisation to SaaS, settlements, device rentals and FX. Juspay hit ₹514 cr FY25 revenue (+61%) with ₹62 cr profit; Razorpay clocked ₹3,783 cr (+65%); PayU draws 34% from VAS.

Mint · Industry · 6/5/2026, 12:37:35 AM

Foreign owners are using OFS-heavy Indian IPOs to repatriate nearly $5bn, with Walmart's PhonePe ($1bn), Coca-Cola's bottler, Carlsberg India and MTG India lining up. With 367 IPOs raising $21.8bn in 2025 and $26bn pending, the rupee is down 13% since 2024 as outflows mount.

Times of India · Business · 6/4/2026, 3:46:08 PM

Foreign parents including PhonePe, Coca-Cola bottling, Carlsberg and MTG's gaming arm are queuing up India IPOs structured as offer-for-sale exits rather than primary capital raises. Data shows $59 leaves the country per $1 raised, with sponsors cashing in on Nestle India's 77x and LG India's 59x P/E multiples.

NDTV Profit · 6/4/2026, 12:30:12 PM

Prism, Oyo's parent, has cleared Sebi's approval hurdle for its Rs 6,650 crore IPO on the third attempt, targeting a $7-8 billion valuation. Updated DRHP is expected by early July, with Q1FY26 profit at Rs 216 crore signaling improved fundamentals. Listing timing remains contingent on market conditions.

Times of India · Business · 6/2/2026, 3:32:43 PM

May UPI volumes rose 4% MoM to 23.20 billion transactions; value climbed 3% to ₹29.90 trillion. Daily run-rate hit 748 million transactions and ₹96,465 crore. PhonePe holds 46.2% volume share, Google Pay 33%, Paytm 8%. Average ticket size has shrunk to ₹1,313 from ₹1,848 in 2021 as UPI penetrates everyday and quick-commerce spend.

The Hindu BusinessLine · 6/1/2026, 3:07:04 PM

UPI clocked 23.2 Bn transactions worth ₹29.9 Lakh Cr in May 2026, up 3.8% MoM and 24% YoY in volume. PhonePe (47.07%) and Google Pay (33.54%) still command 80%+ share, with Paytm trailing at 8.10%. NPCI is weighing shared soundbox infra and a 30% market-share cap by December 2026.

Inc42 · Buzz · 6/1/2026, 8:03:57 AM

UPI volume hit 23.2 Bn in May 2026 (+3.8% MoM, +24% YoY) with value at ₹29.9 Lakh Cr. PhonePe holds 47.07% and Google Pay 33.54%, leaving Paytm at 8.10%. NPCI is reviving the 30% market share cap deadline to Dec 2026 and planning shared soundbox infrastructure for merchants.

Inc42 · 6/1/2026, 8:03:42 AM

India's UPI rail processed 23.2 billion transactions worth Rs 29.90 lakh crore in May 2026, averaging 748 Mn daily transfers and Rs 96,465 crore in daily value. Volumes grew 3.8% MoM. PhonePe leads with 46.2% share, followed by Google Pay (33%) and Paytm (8%); smaller apps are pushing NPCI for a level playing field.

Entrackr · Newsletter · 6/1/2026, 4:37:37 AM

Foreign investors are skipping primary issues at stretched valuations and routing ₹1.1 trillion into block trades YTD. FPI share of QIB allocations is set to drop to 25% in 2026 from 42% in 2025, forcing Zepto, Jio Platforms, PhonePe ($1.3bn IPO deferred) and boAt to accept domestic MF-led pricing discipline.

Mint · Markets · 6/1/2026, 12:42:17 AM

Zomato is targeting India's $25 Bn healthy F&B opportunity with a subscription-led meal-plan feature in three metros, while peers like PhonePe (47% UPI share) and TBO Tek dominate adjacent newsletter headlines.

Inc42 · 5/29/2026, 2:34:58 AM

India's primary market is set for a busy second half of 2026, led by SBI Funds Management (~$1.1bn) and Manipal Health. Consumer-facing names including Zepto, Flipkart, PhonePe and Reliance Jio could follow as sentiment recovers, reshaping retail-sector listings worth $5-8.5bn.

Mint · 5/29/2026, 12:34:11 AM

Ahead of its IPO, PhonePe's Rahul Chari frames data and distribution as the durable AI-era moats. The Bengaluru-based payments leader clocked 1,033 Cr UPI transactions worth ₹14.31 Lakh Cr in April, lifting share to 47.07% from 46.70%, as it eyes broader financial services aggregation over 3-4 years.

Inc42 · Buzz · 5/28/2026, 12:27:52 PM

PhonePe processed 1,033 Cr UPI transactions worth ₹14.31 Lakh Cr in April 2026, lifting share to 47.07%. Google Pay held 33.54% and Paytm 8.10%. Total UPI volumes dipped 1.3% MoM to 2,235 Cr but grew 25% YoY. NPCI is exploring interoperable soundboxes and revisiting the 30% market share cap.

Inc42 · Buzz · 5/28/2026, 7:48:22 AM

PhonePe processed 10.33 billion UPI transactions in April 2025, its second straight month above the 10 bn mark, commanding 46.2% volume and 49.3% value share worth Rs 14.31 lakh crore. Google Pay (7.36 bn) and Paytm (1.77 bn) trailed. Grocery led merchant categories with 3.72 bn transactions worth Rs 80,449 crore.

Entrackr · 5/27/2026, 9:38:24 AM

PhonePe processed 10.33 billion UPI transactions in April, holding 46.2% volume share and 49.3% value share at Rs 14.31 lakh crore. Google Pay trailed at 7.36 billion and Paytm at 1.77 billion of the 22.34 billion total. Grocery and supermarkets led merchant categories with 3.72 billion transactions worth Rs 80,449 crore.

Entrackr · 5/27/2026, 9:22:29 AM

Water purifier maker Kent RO has pushed its IPO out by at least 12 months, citing geopolitical jitters and rising input costs. Revenue grew to ₹1,400 crore in FY26 from ₹1,260 crore in FY25, with the chairman guiding 15% growth in FY27 as category penetration remains low.

The Hindu BusinessLine · 5/26/2026, 5:59:21 AM

New-age startups are stalling IPO plans amid the US-Iran flare-up and tepid markets. Just 20 mainboard IPOs raised under Rs 20,000 crore YTD versus Rs 27,000 crore from six new-age listings prior. SEBI has extended IPO approval validity by six months, giving issuers room to wait out volatility.

Times of India · Business · 5/24/2026, 11:25:39 PM

CEO Akash Sinha is steering Cashfree toward a ₹1,000 Cr FY26 topline, doubling SME merchants and cross-border revenue while serving Zepto, BigBasket and OpenAI. But FY25 losses widened to ~₹150 Cr as Razorpay's ₹3,783 Cr scale and agentic AI investments squeeze margins across India's 55+ PA licence holders.

Inc42 · 5/23/2026, 8:03:05 AM

Flipkart Minutes' 800+ micro fulfilment centres across 30+ Indian cities drew explicit praise from Walmart President & CEO John Furner. Flipkart and China drove Walmart International's 23.9% operating income growth and 32% ad-business surge in Q1 FY27.

ET Small Business · 5/22/2026, 10:26:04 AM

On Walmart's Q1 FY27 call, President and CEO John Furner singled out Flipkart's 13-minute quick commerce service. Flipkart Minutes now runs 800+ micro fulfilment centres in 30+ Indian cities, helping power Walmart International's 27% ecommerce growth and 32% advertising surge on $177.8B group revenue.

YourStory · Capital · 5/22/2026, 10:09:18 AM

Walmart credits Flipkart and Flipkart Minutes for international ecommerce sales rising 27% and ad revenue 32% in Q1 FY27. The unit runs 800+ micro-fulfilment centres with sub-13 minute delivery across 30+ cities, targeting 1,200 dark stores while a $2-2.5 Bn pre-IPO round stays deferred.

Inc42 · 5/22/2026, 6:35:21 AM

Reliance Industries is reconsidering the launch of Jio's IPO—expected to be India's largest—amid market turbulence and West Asia tensions. The pause echoes PhonePe's slowed listing plans, signaling weak sentiment for marquee tech-led offerings.

Business Today · Latest · 5/21/2026, 12:02:01 PM

CLSA and ICICI Securities peg Flipkart at 50-60% of India's online GMV versus Amazon's 25-30% and Meesho's ~10%. Flipkart added 8.5M WAUs in the week ending May 4 2026 and 26.8M YTD, with electronics driving 63-64% of GMV and quick commerce app WAUs up 117% QoQ.

ET Small Business · 5/18/2026, 1:12:30 PM

NPCI is developing a common interoperable soundbox letting merchants accept payments from any UPI app on a single device. The move reduces hardware duplication for India's kiranas but squeezes Paytm (1.5 Cr subscription merchants) and PhonePe (9.19 Mn devices), whose soundbox rentals underpin offline monetisation as UPI hit 22.35 Bn April transactions.

Inc42 · 5/18/2026, 6:42:21 AM

After ₹41,248 Cr raised across 18 startup listings in 2025, 24 DRHPs are queued for 2026-27. Retail-relevant names dominate: Zepto (₹11,682 Cr), PhonePe (up to ₹13,400 Cr), OYO (₹6,650 Cr), OfBusiness, Infra.Market, Cult.fit, boAt, Curefoods and Rebel Foods. Flipkart pushed to 2028.

Inc42 · Buzz · 5/17/2026, 5:25:05 PM

Walmart has reportedly directed Flipkart to shelve near-term listing plans and prioritise profitability, targeting EBITDA breakeven by FY27. The order came during US CEO John Furner's Bengaluru visit and marks the second India IPO delay for Walmart after PhonePe, signalling a decisive pivot from growth-at-all-costs to disciplined unit economics.

Mint · Markets · 5/15/2026, 8:10:19 AM

Walmart has asked Flipkart to defer its $8-10 billion listing to 2028, citing a crowded 2026 IPO pipeline featuring NSE, Reliance Jio, Zepto and Oyo, alongside soft market conditions. The e-commerce giant is expected to wait for stronger profitability and EBITDA breakeven, echoing PhonePe's earlier listing deferral.

NDTV Profit · 5/15/2026, 7:49:04 AM

Goldman sold 26.75 lakh JFS shares at ₹231.45, a 1.1% discount, to Morgan Stanley Asia. Reliance's financial arm has lost 25% in six months as lending, insurance and AMC bets struggle to scale. Q4 FY26 net profit slid 14% YoY to ₹272.2 Cr on ₹1,018.5 Cr revenue.

Inc42 · Buzz · 5/15/2026, 2:32:06 AM

Goldman sold 26.75 lakh JFS shares at ₹231.45 (1.1% discount) to Morgan Stanley Asia. The exit lands amid a 25% six-month decline and Q4 FY26 profit drop of 14% YoY to ₹272.2 Cr, even as JFS scales BlackRock and Allianz JVs.

Inc42 · 5/15/2026, 2:31:38 AM