PhonePe, the Indian fintech company backed by Walmart, has filed for an initial public offering (IPO) valued at approximately $1.3 billion. This move is significant as it highlights the growing confidence in India's fintech sector and the increasing interest from global investors. With the IPO, PhonePe aims to expand its services and strengthen its market position, which could lead to more innovations in digital payments and financial services in India.

Walmart-owned Indian fintech Phonepe has confidentially filed for an IPO valued at around 120 billion rupees. This move is significant as it highlights the growing confidence in India's fintech sector and Phonepe's position as a key player in the market. With the increasing digital payment adoption in India, this IPO could pave the way for further investments and innovations in the industry.