PhonePe’s co-founder and chief executive, Sameer Nigam, last month said that the startup cannot go public “if there is uncertainty on the regulatory side.”
“If you are buying a share at Rs 100 and you price it assuming we have 48-49% market share, then there is an uncertainty about whether it will come down to 30% and by when,” Nigam said at a fintech conference last month. “We are requesting them (the regulator) if they can find another way to at least solve whatever their concerns are or tell us what the list of concerns is,” he added.