Telco/Internet specialist

Kirk Boodry

Redex Research

Thematic (Sector/Industry)

<p>Google is reportedly close to acquiring smartphone settlements company Pring for ¥20-30bn which would open the door for it to offer a mobile payments service in Japan directly linked to bank accounts. And that is the appeal of Pring which is a relative minnow in the Japanese payments market with &lt;1mn users but has relationships with a wide range of Japanese financial institutions. Google is not a global fintech player but it has had some success in a few markets like the US and India whilst it has started to expand in Europe, and now apparently, Japan. Competitively, the major domestic players with vast consumer ecosystems are formidable competition but Google connects to half of all smartphone users through Android and has merchant relationships through its Internet advertising business.</p>

Google is reportedly close to acquiring smartphone settlements company Pring for ¥20-30bn which would open the door for it to offer a mobile payments service in Japan directly linked to bank accounts. And that is the appeal of Pring which is a relative minnow in the Japanese payments market with &lt;1mn users but has relationships with a wide range of Japanese financial institutions. Google is not a global fintech player but it has had some success in a few markets like the US and India whilst it has started to expand in Europe, and now apparently, Japan. Competitively, the major domestic players with vast consumer ecosystems are formidable competition but Google connects to half of all smartphone users through Android and has merchant relationships through its Internet advertising business.

Japan Fintech - Google Push into Mobile Payments Could Raise Competitive Intensity

Thoughtful, Tactical, and Tangible Insights, All Things VC

All Things VC

Thoughtful, Tactical, and Tangible Insights

With All Things VC, I’m striving to connect the dots from our fast-paced world of venture capital and present it to you in a Thoughtful, Tactical, and Tangible (3T’s) manner.

Private Capital Markets

Imagine Marketing (boAt) / Private Capital Markets

<ul>
<li>Vivek Gambhir is a Venture Partner at Lightspeed India and Chairperson of Imagine Marketing , the parent company of boAT.</li>
<li>Before that, he spent over three decades in Indian consumer, most recently as the CEO and Managing Director of Godrej Consumer Products.</li>
<li>In this conversation, part of our India Series, Vivek breaks down why the playbook for building consumer companies in India is fundamentally different from the US or China, why the Indian consumer ecosystem is more nuanced than most global investors realize, and why the biggest talent gap in Indian startups today is not in building, but in scaling up.</li>
</ul>


Vivek Gambhir is a Venture Partner at Lightspeed India and Chairperson of Imagine Marketing , the parent company of boAT.
Before that, he spent over three decades in Indian consumer, most recently as the CEO and Managing Director of Godrej Consumer Products.
In this conversation, part of our India Series, Vivek breaks down why the playbook for building consumer companies in India is fundamentally different from the US or China, why the Indian consumer ecosystem is more nuanced than most global investors realize, and why the biggest talent gap in Indian startups today is not in building, but in scaling up.


India Is Not the Next China. India Is the Next India.

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/phonepe-pvt-ltd" target="_blank" data-smartkarma-citation="entities:34788:1" rel="noopener">Phonepe</a> (PPL) is looking to raise up to US$1.35bn in its upcoming India IPO.</li>
<li>PhonePe Ltd (PPL) is a fintech firm that builds digital platforms for payments services, digital distribution and financial services, offering consumer payments, merchant payments and lending and insurance distribution services.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Phonepe (PPL) is looking to raise up to US$1.35bn in its upcoming India IPO.
PhonePe Ltd (PPL) is a fintech firm that builds digital platforms for payments services, digital distribution and financial services, offering consumer payments, merchant payments and lending and insurance distribution services.
In this note, we talk about the not-so-positive aspects of the deal.


Aequitas: PhonePe Pre-IPO - The Negatives - Near Term Growth Might Be Capped

<ul>
<li>
<a href="https://www.smartkarma.com/entities/phonepe-pvt-ltd" target="_blank" data-smartkarma-citation="entities:34788:1" rel="noopener">Phonepe </a>(PPL) is looking to raise up to US$1.35bn in its upcoming India IPO.</li>
<li>PhonePe Ltd (PPL) is a fintech firm that builds digital platforms for payments services, digital distribution and financial services, offering consumer payments, merchant payments and lending and insurance distribution services.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Phonepe (PPL) is looking to raise up to US$1.35bn in its upcoming India IPO.
PhonePe Ltd (PPL) is a fintech firm that builds digital platforms for payments services, digital distribution and financial services, offering consumer payments, merchant payments and lending and insurance distribution services.
In this note, we talk about the positive aspects of the deal.


Aequitas: PhonePe Pre-IPO - The Positives - Dominant Payment Platform

National Stock Exchange of India / Equity Capital Markets

National Stock Exchange of India (NSE IN)

<ul>
<li>In this note, we will take a look at the Asia Pacific IPO pipeline for 2026, having looked at Hong Kong earlier, we now talk about India's pipeline.</li>
<li>This list has been compiled on a best effort basis from tracking the company filings and through various other sources.</li>
<li>The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.</li>
</ul>


In this note, we will take a look at the Asia Pacific IPO pipeline for 2026, having looked at Hong Kong earlier, we now talk about India's pipeline.
This list has been compiled on a best effort basis from tracking the company filings and through various other sources.
The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.


India

Flipkart Online Services Private Limited owns and operates e-commerce website. The Company provides books, movies, music, games, consoles, televisions, mobiles, digital cameras, computers, network components, software, peripherals, apparel, shoes, and kitchen appliances. Flipkart Online Services serves customers in India.

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Flipkart Online Services (1398508D IN)

Japan Fintech - Google Push into Mobile Payments Could Raise Competitive Intensity

Google is considering an acquisition that would allow it to compete directly in JP mobile payments. It lacks a direct consumer business but Android...

Kirk Boodry

India Is Not the Next China. India Is the Next India.

Vivek Gambhir is a Venture Partner at Lightspeed India and Chairperson of Imagine Marketing , the parent company of boAT. Before that, he spent...

All Things VC

Aequitas: PhonePe Pre-IPO - The Negatives - Near Term Growth Might Be Capped

Phonepe (PPL) is looking to raise up to US$1.35bn in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

Aequitas: PhonePe Pre-IPO - The Positives - Dominant Payment Platform

Phonepe (PPL) is looking to raise up to US$1.35bn in its upcoming India IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

Aequitas 2026 Asia IPO Pipeline - India

In this note, we will take a look at the Asia Pacific IPO pipeline for 2026, having looked at Hong Kong earlier, we now talk about India's pipeline.

Sumeet Singh

Price Gauge

52-week Range

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