The round is being raised at a pre-money valuation of $12 billion, making PhonePe the most valuable fintech in the country, surpassing payment services provider, Razorpay which was last valued at $7.5 billion.
The U.S. dollar weakened against major currencies as traders scaled back tightening expectations. Soft economic data, including retail sales and job losses, influenced these shifts.
Resilient Asset Management plans to sell nearly five percent of Paytm shares. This stake sale is valued at approximately five thousand crore rupees. Proceeds will
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