Retail giant Walmart's shareholding in decacorn fintech firm PhonePe has dropped to 85 per cent from 89 per cent following its ongoing fundraise of $1 billion, the US based firm said.
"During the three months ended April 30, 2023, the company received $0.5 billion related to new rounds of equity funding for the company's majority-owned PhonePe subsidiary, which reduced the company's ownership from approximately 89 per cent as of January 31, 2023, to approximately 85 per cent," Walmart said in a latest regulatory filing.
Till April 30, the Walmart group firm has raised $750 million, including a $200 million capital infusion from Walmart.
General Atlantic and its co-investors have contributed $550 million in the ongoing $1 billion funding round of PhonePe at a pre-money valuation of $12 billion.
Ribbit Capital, Tiger Global and TVS Capital Funds have invested $100 million during the funding round.
American retail giant Walmart's stake in PhonePe reduced to about 85% at the end of April from 89% three months earlier, as the Indian digital payments startup sold new shares to raise funds as part of a $1-billion fundraising plan.
Retail giant Walmart's shareholding in decacorn fintech firm PhonePe has dropped to 85 per cent from 89 per cent following its ongoing fundraise of $1 billion, the US based firm said. PhonePe has now raised a total of $850 million of primary capital in the current round till the end of May.
Who are the current shareholders of PhonePe? Funds own 6.12%, Parent Entities (largest shareholder) own 71.20%, Enterprises own 6.52% and Angels own 1.02%.
However, PhonePe's adjusted earnings before interest, tax, depreciation, and amortization (Ebitda) excluding employee costs stood at Rs 159 crores in profit as against a loss of Rs 455 crores in FY22.
Integration with other products. PhonePe is integrated with Flipkart and other Flipkart-owned brands, while Google Pay is integrated with Gmail, Google Maps, and other Google products. Pricing: Both PhonePe and Google Pay do not charge for most transactions.
We all know that PhonePe provides online mobile recharge services (Prepaid and Postpaid) to your mobile very easily. Hence, Phonepe earns a commission from the telecom operator when recharging is done and recently, it charges platform fees in the range of ₹1 to ₹2 per transaction mobile recharge done for above ₹50.
When it comes to security, PhonePe is highly secure. The app uses multi-layer security, including a UPI PIN, to ensure that your transactions are safe and secure. PhonePe also has a limit of Rs. 1 lakh per transaction, which adds an extra layer of security.
PhonePe is now owned by the American multinational Walmart, and Google Pay is headquartered in California, United States. Back in August 2023, the Chief Executive Officer of One 97 Communications Limited, Sharma, and the promoter entities became the largest shareholder in Paytm.
Abstract. US retail giant Walmart has signed a definitive agreement to acquire a 77% stake in India's largest e-commerce marketplace Flipkart with an investment of around $16 billion, making it the largest transaction in the history of the online retail space globally.
It is a publicly traded family-owned business, as the company is controlled by the Walton family. Sam Walton's heirs own over 50 percent of Walmart through both their holding company Walton Enterprises and their individual holdings.
As of today (2024-08-10), Walmart's share price is $67.95. Walmart's EPS without NRI for the trailing twelve months (TTM) ended in Apr. 2024 was $4.57. Therefore, Walmart's PE Ratio without NRI for today is 14.87.
According to Walmart's latest financial reports and stock price the company's current number of shares outstanding is 8,053,000,000. At the end of 2024 the company had 8,053,000,000 shares outstanding.
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