PhonePe completes process to move domicile from Singapore to India

All businesses, and entities now owned by and consolidated under PhonePe Pvt Ltd-India

PhonePe has completed three steps to move its domicile to India, said the Walmart-owned fintech company on Monday.

PhonePe has in the past year moved all businesses, including insurance and wealth broking, and subsidiaries of PhonePe Singapore to PhonePe Pvt Ltd-India.

“Being one of the largest fintech companies, PhonePe is focused on India market and all its employees are based in the country, that is why the leadership decided to take these steps,” said a company insider who didn’t wish to be named.

PhonePe’s board recently approved creating a new employee stock ownership plan and migrating more than 3,000 PhonePe