PhonePe is no longer Flipkart company: Why the separation and what it means

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Earlier this year, PhonePe changed its domicile from Singapore to India. In October this year, PhonePe said it had finished moving all the businesses and subsidiaries of PhonePe Singapore to PhonePe Pvt Ltd – India, including its insurance broking services and wealth broking businesses. The separation will reduce Flipkart’s valuation slightly from $37.6 billion to around $33 billion.

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