MakeMyTrip eyes India IPO as part of long
16 Mar 2026
The big ticket and much awaited PhonePe‘s initial public processing is “temporarily deferred” keeping in mind the global conflict driven market volatility, according to a statement from the company.
“PhonePe, today announced that it has temporarily deferred its public market listing process due to the current geopolitical conflicts and market volatility and will resume the listing process once there is some stability in global capital markets,” the statement read.
“We sincerely hope for a swift return to peace in all the affected regions. We remain committed to a public listing in India.” said Sameer Nigam, PhonePe’s CEO
The IPO was expected to be one of the biggest fintech listings— the second largest after Paytm.
The geopolitical tension has increased the volatility of Indian stock market to multi-month highs. There have been 32 IPOs between January and March 2026 and 53% of them were listed as loss on the listing day, with some stocks listing at a discount of more than 74%, according to data from Bombay Stock Exchange.
Listing performance of much awaited and popular stocks have become a conversation in recent IPOs. In calendar year 2025, 30% of the 255 stocks that went public, were listed on loss with respect to the issue price, the BSE data showed.
