<p>Walmart group digital payments firm PhonePe is planning to shift its headquarters from Singapore to India, according to a source privy to the development.</p>.<p>Flipkart, the largest shareholder of the firm, will continue to remain headquartered in Singapore and there is no decision to shift its base.</p>.<p>When contacted, a PhonePe spokesperson confirmed the development.</p>.<p>"We are in the process of moving our registered entity from Singapore to India," the PhonePe spokesperson said.</p>.<p><b>Also Read | <a href="https://www.deccanherald.com/national/fpis-mutual-funds-increase-stake-in-paytm-1128457.html" target="_blank">FPIs, mutual funds increase stake in Paytm</a></b></p>.<p>An email query sent to Flipkart elicited no reply.</p>.<p>Flipkart had partially spun-off PhonePe in December 2020 to enable the payments firm to access dedicated capital to fund its long-term ambitions over the next three to four years.</p>.<p>The e-commerce firm continues to be its biggest shareholder.</p>.<p>As per the last fundraise of $700 million, about Rs 5,172 crore, PhonePe was valued at $5.5 billion.</p>.<p>PhonePe had crossed the 250 million registered user milestone, with over 100 million monthly active users (MAU) generating nearly one billion digital payment transactions in October 2020.</p>
<p>Walmart group digital payments firm PhonePe is planning to shift its headquarters from Singapore to India, according to a source privy to the development.</p>.<p>Flipkart, the largest shareholder of the firm, will continue to remain headquartered in Singapore and there is no decision to shift its base.</p>.<p>When contacted, a PhonePe spokesperson confirmed the development.</p>.<p>"We are in the process of moving our registered entity from Singapore to India," the PhonePe spokesperson said.</p>.<p><b>Also Read | <a href="https://www.deccanherald.com/national/fpis-mutual-funds-increase-stake-in-paytm-1128457.html" target="_blank">FPIs, mutual funds increase stake in Paytm</a></b></p>.<p>An email query sent to Flipkart elicited no reply.</p>.<p>Flipkart had partially spun-off PhonePe in December 2020 to enable the payments firm to access dedicated capital to fund its long-term ambitions over the next three to four years.</p>.<p>The e-commerce firm continues to be its biggest shareholder.</p>.<p>As per the last fundraise of $700 million, about Rs 5,172 crore, PhonePe was valued at $5.5 billion.</p>.<p>PhonePe had crossed the 250 million registered user milestone, with over 100 million monthly active users (MAU) generating nearly one billion digital payment transactions in October 2020.</p>