PhonePe is heading to an IPO valuing it at a likely $10.5 billion, a significant milestone for a company that is just 10 years old. But, the digital payments platform’s unusually high Esop bill, estimated at $1.4 billion, is emerging as more than an optics challenge.
PhonePe created $10bn value in 10 years. Esop holders to pocket $1.4bn of that
