Is PhonePe a Unicorn? How It Became India’s Leading Fintech Powerhouse

In 2016, the e-commerce giant Flipkart acquired PhonePe, marking a significant shift in the fintech space. According to the latest data from the National Payment Corporation of India (NPCI), PhonePe has emerged as the leading UPI (Unified Payments Interface) app, both in terms of transaction volume and value. In December 2024 alone, PhonePe processed over 798.4 crore transactions, representing a 7.8% growth from the 740.1 crore transactions in November 2024.

PhonePe Group has become India’s top fintech company, with its flagship product, the PhonePe digital payments app, launched in August 2016. The app rapidly gained popularity, establishing PhonePe as the country’s go-to consumer payments platform. Beyond its dominance in digital payments, PhonePe has expanded into various financial services, including Insurance, Lending, and Wealth management, along with venturing into new consumer tech products such as Pincode and the Indus Appstore.

Is PhonePe a Unicorn?

In 2018, PhonePe achieved unicorn status just three years after its inception. The company has raised over $1 billion in funding since 2016, with the most recent infusion of $297 million from its parent company, Flipkart, in Singapore.

PhonePe Recent Business Developments

On April 15, 2025, PhonePe launched its innovative UPI Circle feature, which allows users to create a circle for making payments on behalf of family, friends, or trusted contacts. This feature also enables dependents to generate their own UPI IDs without needing a linked bank account, thereby providing a secure digital payment solution for those with limited access to financial services.

Further expanding its offerings, PhonePe launched its PINCODE app on April 21, a hyperlocal e-commerce platform that now provides a 24-hour online medicine delivery service in Bangalore, Mumbai, and Pune. This service ensures that customers can access over the counter and prescription medicines at any time, with delivery from the nearest medical shop within just 10 minutes.

On March 11, 2025, PhonePe reached a major milestone, surpassing 600 million (60 crore) registered users. As the company celebrates its 10th anniversary this year, it continues to scale, providing millions of customers with a wide range of financial services and technology solutions.

Also Read: List of 16 Fintech Unicorn Startups in India in 2025: Razorpay, PhonePe & More

Conclusion

PhonePe has shown impressive growth and innovation in the Indian fintech ecosystem. From its acquisition by Flipkart to becoming a unicorn and expanding its offerings, the company continues to evolve and shape the future of digital payments and financial services in India. With constant innovation, such as the UPI Circle and PINCODE app, PhonePe is positioning itself as a leader in the digital financial services landscape, setting new standards for convenience and accessibility for users across the country.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Page Industries to Consider Declaring Dividend for FY25: Board Meeting on May 15

On April 22, 2025, the board of directors of Page Industries Ltd., the parent company of Jockey India, has scheduled to conduct its Board meeting on May 15 to discuss and approve the results for Q4FY25 and FY25 and to consider the final dividend for the financial year 2025.

Page Industries Dividend History

Ex-Date Dividend Type Dividend Amount (₹)
Feb 13, 2025 Interim` 150
Nov 14, 2024 Interim 250
Aug 16, 2024 Interim 300

Over the past 12 months, Page Industries has rewarded its shareholders with dividends on 5 occasions, with each payout exceeding ₹100 per share. In total, the company has distributed more than ₹900 per share in dividends over the past year, starting from February 2024.

In February 2025, the company approved its 3rd interim dividend of ₹150 per share, following a ₹250 per share payout announced in November 2024. At the close of the Q1FY25, Page Industries declared an interim dividend of ₹300 per share, which was paid out to shareholders after August 2024.

Additionally, in February 2024, a ₹100 per share dividend was distributed to shareholders. Between June 2022 and November 2023, the company paid a total of ₹470 per share in dividends, with the average payout ranging from ₹60 to ₹75 per share.

Page Industries Management on Q3FY25 Earnings

Mr. V.S. Ganesh, Managing Director, Page Industries Limited, said, “I am thrilled to announce that we have achieved strong profit growth, driven by consistent revenue increases and meticulous control over operating expenses. Our unwavering commitment to investing in top talent, product innovation, and digital transformation is propelling us towards our strategic goals. We are perfectly positioned to seize promising future growth opportunities, with modern retail and e-commerce continuing to serve as powerful growth engines. Our focus on these areas not only strengthens our overall market position but also ensures we remain at the forefront of industry advancements.”

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Rane Group Merger: Check Shareholder Entitlement Ratio and Other Details

In February 2024, the Rane Group announced the merger of Rane Brake Lining and Rane Engine Valve into Rane (Madras), aiming to establish a unified platform that will facilitate future growth.

The shareholders of Rane Brake Lining Ltd. and Rane Engine Valve Ltd. who are eligible to receive shares in Rane (Madras) Ltd. will have their eligibility determined on Tuesday, April 22. This date has been set as the record date for the proposed merger between the companies.

This restructuring will consolidate all operating subsidiaries under a single entity, which will report a combined turnover of ₹3,373 crore for the 12-month period ending December 2023, as stated by the Rane Group last year.

Objective of Rane Merger

According to the scheme of arrangement, this move is intended to streamline the group’s structure, enabling the full value of its listed operating businesses to be captured, unlocking synergies across product lines, and improving both operational and financial efficiencies. Additionally, the larger entity will have increased flexibility to raise capital for organic and inorganic growth.

The National Company Law Tribunal (NCLT) approved the scheme of arrangement in March this year.

Also Read: Check History and Presence of Rane Group

Entitlement Ratio and Record Date

  • Shareholders of Rane Brake Lining Ltd. will receive 21 fully paid-up equity shares of Rane (Madras) Ltd. for every 20 shares they hold as of the record date.
  • Shareholders of Rane Engine Valve Ltd. will receive 9 fully paid-up equity shares of Rane (Madras) Ltd. for every 20 shares they hold as of the record date.
  • The record date for determining shareholder eligibility is set for Tuesday, April 22.

 

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Upcoming IPO: SEBI Approved Continuum Green Energy ₹3,650 Crore IPO

Continuum Green Energy Limited, an independent power producer, has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). The company had submitted its preliminary draft documents on December 10, 2024.

Continuum Green Energy IPO Details

Continuum Green Energy aims to raise ₹3,650 crore through its IPO, consisting of a combination of a fresh issue and an offer-for-sale (OFS) component. According to the preliminary draft documents, Continuum Green Energy plans to issue equity shares worth up to ₹1,250 crore as a fresh issue, while promoters will offer shares worth up to ₹2,400 crore through the OFS.

Kotak Mahindra Capital Company Ltd, Ambit Private Ltd, Citigroup Global Markets India Private Ltd, and JM Financial Ltd are the appointed book-running lead managers for the upcoming IPO.

Use of IPO Proceeds

The company intends to use the funds raised from the IPO to partially or fully repay certain outstanding loans of its subsidiaries, including the payment of accrued interest, with ₹1,100 crore earmarked for investment in these subsidiaries. The remainder of the funds will be used for general corporate purposes, as outlined in the draft papers.

Additionally, the company may opt for a pre-IPO placement of specified securities, aiming to raise up to ₹250 crore prior to submitting the Red Herring Prospectus (RHP) to the Registrar of Companies (RoC).

Also Read: Upcoming IPO: Seshaasai Technologies Gets SEBI Nod for Public Offering

About Continuum Green Energy

Founded in 2007, Continuum Green Energy is a key player in India’s renewable energy sector. As an independent power producer, the company specialises in identifying, developing, constructing, and managing renewable energy projects. It primarily serves commercial and industrial clients, state and central utilities, and power exchanges by providing green energy solutions. The company operates both large-scale wind projects and hybrid systems combining wind and solar power.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Mid-Day Top Gainers and Losers on April 22, 2025: SBI and Kotak Mahindra Bank Led Gainers

On April 22, 2025, as of 12:07 PM, the BSE Sensex was up 0.36% at 79,696.54, while the Nifty 50 was up 0.31% at 24,203.55. The mid-day top gainers and losers for the day are:

Mid-Day Top Gainers 

Symbol Open High Low LTP %chng
SBIN 821.15 833.9 814 833.2 2.02
KOTAKBANK 2,249.00 2,301.90 2,245.40 2,285.50 1.97
TATACONSUM 1,121.70 1,149.00 1,118.20 1,141.00 1.78
M&M 2,765.00 2,814.00 2,756.00 2,805.80 1.51
HDFCBANK 1,935.00 1,970.60 1,935.00 1,955.70 1.48

Here’s a brief market update based on the top gainers:

SBI

SBI rose 2.02%, reaching ₹833.20, as it hit a high of ₹833.90 during the session. The stock benefited from a strong upward momentum in banking stocks today.

Kotak Mahindra Bank

Kotak Mahindra Bank increased by 1.97% to ₹2,285.50, with a high of ₹2,301.90.

Tata Consumer

Tata Consumer gained 1.78%, closing at ₹1,141.00. The stock peaked at ₹1,149.00, reflecting steady buying activity.

M&M

M&M climbed 1.51%, closing at ₹2,805.80, with the highest price hitting ₹2,814.00. The stock continued its upward movement.

HDFC Bank

HDFC Bank rose 1.48% to ₹1,955.70, reaching a high of ₹1,970.60. The stock saw consistent buying interest throughout the day.

Mid-Day Top Losers

Symbol Open High Low LTP %chng
INDUSINDBK 790.00 808.00 775.40 792.7 -4.29
HEROMOTOCO 3,901.00 3,902.90 3,821.20 3,833.70 -2.13
POWERGRID 319.75 319.75 313.20 314 -1.88
INFY 1,440.00 1,440.00 1,420.80 1,428.50 -1.55
BAJAJ-AUTO 8,186.00 8,186.50 8,075.00 8,124.00 -1.5

Here’s a brief market update on the top losers:

IndusInd Bank

IndusInd Bank saw a 4.29% drop, trading at ₹792.70, after reaching a high of ₹808.00. The stock faced selling pressure in the afternoon session.

Hero MotoCorp

Hero MotoCorp dropped 2.13%, closing at ₹3,833.70, as the stock moved lower from its high of ₹3,902.90 due to profit-taking.

Powergrid

Powergrid fell by 1.88%, closing at ₹314.00, with a low of ₹313.20. The stock faced pressure amid broader market corrections.

Infosys

Infosys declined by 1.55%, trading at ₹1,428.50. It saw a low of ₹1,420.800.

Bajaj Auto

Bajaj Auto slipped 1.5%, closing at ₹8,124.00, with a low of ₹8,075.00. The stock saw some profit-taking after recent gains.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Bob Share Price Continued Its Gaining Streak After LIC Increased Stake in Bank

On April 22, 2025, Bank of Baroda (Bob) share price rose ~2%, reaching a day high of ₹257.10 at 11: 40 AM, after opening at ₹250.60 on BSE. The gain in Bob share price follows the previous day gain of ~3%, where the Bank of Baroda shares touched the day high of ₹250.50. The increase in Bob share price follows the announcement that Life Insurance Corporation of India (LIC) had raised its stake in the bank through market purchases.

LIC Increases Stake in Bank of Baroda

According to a filing on April 19, Bank of Baroda revealed that LIC had acquired 10,45,41,403 shares, equating to a 2.022% stake, through market transactions between November 20, 2023, and April 16, 2025. This acquisition raised LIC’s total stake in the bank to 36,47,58,678 shares, or 7.053%.

It’s important to note that this increase in LIC’s holding did not alter the overall voting capital of Bank of Baroda, which remains at 10,34,27,24,358.

Also Read: Bank of Baroda Launches ‘bob Square Drive Deposit Scheme’ Offering Up to 7.80% Interest

Bank of Baroda’s Shareholding Structure

As per the shareholding pattern for the March quarter of the previous financial year, mutual funds collectively owned 47,41,17,336 shares, or 9.17% of Bank of Baroda’s total equity. Key mutual fund schemes with stakes in the bank include SBI Large & Mid Cap Fund, Kotak Equity Arbitrage Fund, HDFC Mutual Fund’s HDFC S&P BSE 500 ETF, and ICICI Prudential Equity Fund.

Insurance companies held 38,88,59,359 shares, or 7.52%, while foreign portfolio investors (FPIs) owned 46,41,56,389 shares, representing an 8.98% stake.

 

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Gold Prices Near ₹1 Lakh Mark in India Amid Trade Tensions

On Tuesday, April 22, 2025, Gold prices in India surged sharply and moved close to the ₹1 lakh per 10 grams milestone amid a global surge in the precious metal. In Delhi, rates for 24-karat gold leapt by ₹1,650 to reach ₹99,800 per 10 grams, as per data from the All India Sarafa Association. After including GST, gold prices in the retail market have already breached the ₹1 lakh threshold.

On the Multi Commodity Exchange (MCX), gold futures soared to an all-time high of ₹96,775 per 10 grams. Meanwhile, international spot gold touched a record $3,473.03 per ounce, while US gold futures advanced 1.7% to $3,482.40 per ounce.

Why are Gold Prices Rising?

The latest upswing in the yellow metal is mainly driven by escalating global uncertainties. Renewed criticism of Federal Reserve Chair Jerome Powell by former US President Donald Trump has shaken investor confidence. Trump’s calls for immediate interest rate cuts and his warning of an impending US economic slump further pressured the US dollar, prompting investors to flock to gold as a safe haven.

Slumping Dollar and Trade Tensions

A weakening US dollar, now below the key 100 mark on the dollar index, is a major factor behind gold’s rising allure. Recession worries and market volatility triggered by US-imposed tariffs and retaliatory moves from China are adding to investor anxiety, making gold a more attractive alternative.

Central Bank Demand at Record Highs

Central banks, especially across Asia, have stepped up their gold purchases to shield against dollar fluctuations. According to the World Gold Council, central banks globally acquired a record-breaking 1,037 tonnes of gold in 2024—a significant uptick signaling a strategic shift in reserve management.

Gold Returns in 2024

So far in 2024, gold has climbed over 30%, driven by rising geopolitical tensions and declining faith in dollar-based assets. The shift has been supported by increased inflows into gold-backed exchange-traded funds (ETFs) and aggressive buying by central banks around the world.

Also Read: Why Gold Prices Touched a New Record High in International Market?

Conclusion

Gold Price in India has reached ₹1 Lakh mark due to the falling dollar and trade tensions as well as the record high demand by central banks.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

MHA Issues Alert on Rising Fake ₹500 Notes: How to Check Real Note?

The Ministry of Home Affairs (MHA) has issued a high-priority alert warning citizens and authorities about a surge in fake ₹500 currency notes circulating in the market. This calls for a check in your wallet, whether you are carrying a counterfeited or fake ₹500 note.

According per news reports, alerts have been issued to key financial and regulatory institutions—including the Directorate of Revenue Intelligence (DRI), Financial Intelligence Unit (FIU), Central Bureau of Investigation (CBI), National Investigation Agency (NIA), Securities and Exchange Board of India (SEBI), and various banks.

The counterfeit notes are reportedly very close in appearance and texture to genuine ones, making them difficult to spot, even for trained personnel.

How to Check a Fake ₹500 Note?

As per news reports, the forged ₹500 note are similar to real ones in terms of ink colour and letter design. However, there’s one notable flaw: the spelling of “Reserve Bank of India” is incorrect. The fakes read “Resarve Bank of India”—with an “a” replacing the “e”.

Also Read: Indian Rupee Climbs as Investors Brace for US Retail Sales, Fed Talk

Key Features of Real ₹500 Note

The dimensions of the ₹500 note are 66 mm x 150 mm.

  • The base colour of the note should be stone grey, with an overall greenish tint. If the colour looks different, it’s worth examining the note more closely.
  • When you turn the note over, you’ll notice a white space on the left side. If you hold the note up to light, the number 500 will appear faintly printed in that area.
  • A green security thread runs vertically through the middle of the note. When you tilt the note, this thread should shift in colour from green to blue.
  • In the center, there’s a portrait of Mahatma Gandhi, facing slightly to the side. This image is textured and raised, designed to help visually impaired individuals identify the note.
  • To the left of Gandhiji’s image, you’ll find ₹500 written in Devanagari script.
  • The reverse side of the note features the Red Fort, symbolising India’s cultural heritage.
  • You’ll also find geometric patterns and watermark designs scattered throughout, including repeating patterns of the number 500.
  • On the right side of the note, the national emblem is printed. Just beside it—between the emblem and the security thread—you’ll see the guarantee clause, signed by the Governor of the Reserve Bank of India (RBI).
  • The serial numbers printed on the top left and bottom right corners of the note increase in size as you move from left to right.
  • Lastly, on the back of the note, you’ll spot the Swachh Bharat Abhiyan logo and slogan, reinforcing the national cleanliness campaign.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Waaree and Premier Energies Shares in Focus After US Tariffs on SE Asian Import

On April 22, 2025, Shares of Premier Energies and Waaree Energies, a leading solar energy equipment manufacturer, will be in focus as the US has imposed anti-dumping duty on imports of solar equipment from 4 Southeast Asian (SE) countries: Cambodia, Vietnam, Malaysia and Thailand.

On Monday, April 21, 2025, the US levied new duties as high as 3,521% on imports from Cambodia, Vietnam, Malaysia and Thailand. This follows an investigation, which was commenced during former President Joe Biden’s tenure. The investigation was sought by US-based solar manufacturers.

These duties are in addition to the new widespread tariffs imposed by US President Donald Trump that have created a turmoil in the global supply chain and markets.

Antidumping Duties in Different SE Countries

Companies not specifically named in Vietnam may be subject to duties as high as 395.9%, while those in Thailand could face rates up to 375.2%. Malaysia’s general duty rate stands at 34.4%. Jinko Solar was hit with duties of approximately 245% on exports from Vietnam and 40% on those from Malaysia. Trina Solar faces tariffs of 375% in Thailand and over 200% for shipments from Vietnam. JA Solar’s modules exported from Vietnam may be subject to around 120% in duties.

What are Antidumping Duties?

The antidumping and countervailing duties are designed to offset the value of alleged unfair subsidisation and pricing, as calculated by the Commerce Department.

Also Read: Waaree and Premier Energies Drive Growth Through US Exports

Premier Energies and Waaree Energies Shares Performance

On April 22, Premier Energies shares rose ~2%, reaching a day high of ₹1,035.00 at 09:20 AM, after opening at ₹1,035.00. Waaree Energies shares soared ~5%, touching a day high of ₹2,574.45 and opened at ₹2,520.00.

About Premier Energies Limited

Premier Energies Limited is engaged in the manufacturing of integrated solar cells and solar panels. The company’s product portfolio revolves around solar cells, solar modules, monofacial and bifacial modules, as well as EPC and O&M solutions.

About Waaree Energies Limited (WEL)

Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. WEL has five solar module manufacturing facilities in India, with an international presence.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

April 22 Marks Last Date to Register for PM Internship Scheme: Check How to Apply

Launched by Union Finance Minister Nirmala Sitharaman, the PM Internship Scheme aims to provide young individuals aged 21-24 years from low-income households with 12-month internship opportunities in the top 500 companies in India.

Over the next 5 years, the PM Internship Scheme (PMIS) aims to offer 1 crore internships at leading companies. Round 2 of PMIS aims to offer over 1 lakh internship opportunities after receiving an overwhelming response of over 6 lakh applications in Round 1.

The last day to register for the PM Internship Scheme 2025 is April 22, 2025, which previously was April 15, 2025.

How to Register for the PM Internship Scheme?

Step 1: Go to pminternship.mca.gov.in

Step 2: Register yourself:

  • Click “Youth Registration”.
  • Finish e‑KYC using Aadhaar/mobile OTP.

Step 3: Login & create a profile:

  • Use the received credentials to log in.
  • Add your personal, educational, and income details.
  • Upload scanned certificates (PDF/JPG).

Step 4: Select Preferences:

  • Now choose up to 5 internship opportunities by location, sector, and functional role.

Step 5: Submit Application:

  • Review entries, accept the declaration, and submit.
  • Save/download the confirmation PDF for future reference.

Also Read: What are the Eligibility Criteria for the PM Internship Scheme?

Conclusion

The Prime Minister Internship Scheme 2025 presents a unique opportunity to gain practical experience with India’s leading companies, expand your professional network, and boost your career potential.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.