An Indian financial technology company with ties to retail giant Walmart has decided to postpone its stock market debut due to worldwide economic uncertainty and international conflicts.
PhonePe announced Monday that it has temporarily shelved plans for its initial public offering, pointing to ongoing geopolitical conflicts and unpredictable conditions in international financial markets as the driving factors behind the decision.
The fintech company, which operates in India’s digital payments sector and receives backing from Walmart, made the announcement as global markets continue to experience turbulence from various international tensions and economic pressures.
