PhonePe IPO: 10 key risks investors should know from the updated DRHP by Live mint | February 2, 2026 4:08 pm | Indian Stocks, Market, News PhonePe has filed its Updated Draft Red Herring Prospectus with SEBI for a public listing, featuring a sale of over 50 million shares. Walmart and other investors will offload stakes, as PhonePe continues to dominate the UPI market in India.