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'Govern yourself like HDFC or SBI, build like Google or Amazon': PhonePe's Sameer Nigam

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'Govern yourself like HDFC or SBI, build like Google or Amazon': PhonePe's Sameer Nigam

PhonePe Founder and CEO Sameer Nigam said the fintech company hopes to revive its initial public offering (IPO) plans once global markets stabilise, even as it prepares to expand beyond India with a full-stack payments business in the UAE.

Speaking at the 17th edition of YourStory's TechSparks in Bengaluru on Tuesday, Nigam said PhonePe had completed much of the groundwork for its public listing before geopolitical tensions and market volatility forced it to pause the process earlier this year.

"I think hopefully not too far away," Nigam said when asked about the IPO by Shradha Sharma, Founder and CEO of YourStory and The Bharat Project. "We got our board approvals. We were almost over the line. We'd done our roadshows," he said, recalling how escalating conflicts disrupted the company's plans.

"The first moment of stability, we would like to get back out there," he added, without committing to a listing date.

PhonePe had announced a pause in its IPO plans in March 2026, citing geopolitical uncertainty and volatile market conditions. Nigam declined to discuss the company's potential valuation, saying its draft prospectus reflected the past rather than the future.

Nigam said payments carry a responsibility other consumer tech does not. "Yes, it's fintech. Yes, it's a consumer tech business. But really, it's a business of trust," he said. PhonePe operates under the oversight of the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI) and Insurance Regulatory and Development Authority of India (IRDAI) through its various businesses.



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