Brands
PhonePe clears regulatory hurdle, sets stage for India IPO
MUMBAI: PhonePe, the Walmart-backed digital payments firm, has received regulatory approval to proceed with its stock market listing, clearing a key hurdle after confidentially filing for an initial public offering in September, reports Reuters.
The IPO is expected to include partial share sales by existing investors including Walmart, Microsoft and Tiger Global.
The listing comes as India’s primary markets continue to run hot, with equity fundraising touching record levels in 2025. PhonePe is targeting a market debut by mid-2026. The company was last valued at $12 billion in 2023, when it raised funds from private investors.
Founded in 2015, PhonePe is India’s largest payments platform on the Unified Payments Interface (UPI), commanding over 45 per cent market share by transaction volume as of December 2025. It processed 9.8 billion of the 21.6 billion UPI transactions recorded in August, according to data from the National Payments Corporation of India.
The company counts more than 600 million registered users and serves nearly 50 million merchants nationwide. A delay by Indian regulators in enforcing market-share caps on UPI in 2024 has benefited dominant players such as PhonePe and Google Pay.
Ahead of the IPO, PhonePe disclosed that its losses narrowed to Rs 17.2 billion ($189 million) in the year ended March 2025, from Rs 19.96 billion a year earlier, signalling improving financial discipline as it prepares to tap public markets.
Brands
ConfirmTkt rolls out 1 per cent cashback for summer train trips
Unlimited wallet rewards valid till 31 May boost holiday travel
GURUGRAM: ConfirmTkt has announced a limited period 1 per cent cashback offer aimed at making summer train travel a little lighter on the wallet.
The authorised B2C online train ticketing platform, part of the Ixigo Group, will credit 1 per cent cashback directly into users’ ConfirmTkt Wallet for every train ticket booked through its app. The offer runs until 31 May 2026, neatly covering the peak summer holiday rush.
There is no cap on how much cashback users can earn during the offer window. The credited amount can be redeemed on the next train booking within 90 days, making it particularly useful for families planning return journeys, students heading home for the holidays, or travellers ticking off multiple destinations in one season.
Importantly, the process is automatic. Cashback is credited after booking, with no codes to enter and no hoops to jump through, keeping the reward simple and seamless.
Ixigo Trains and ConfirmTkt CEO Dinesh Kumar Kotha, said summer remains one of the busiest travel seasons in India, as families, students and professionals take to the rails to reconnect and explore. He noted that by keeping the cashback uncapped and redemption straightforward, the company aims to help travellers extract greater value from both outbound and return trips during this high demand period.
Beyond the seasonal offer, ConfirmTkt continues to position itself as a tech driven, customer first platform. Its features include high accuracy waitlist prediction, nearby trains and alternate travel plan suggestions when seats are scarce, live train status updates, seamless PNR tracking, instant refunds, seat availability alerts and UPI enabled payments. Users can also order food on train for delivery to their seats at selected stations.
Taken together, the platform’s tools are designed to reduce uncertainty and add a layer of reassurance to rail journeys. With this summer cashback in play, ConfirmTkt is not just helping travellers book tickets, but giving them a small return ticket on their spending too.
