PhonePe allots stock options worth $200 million to its employees

Fintech major PhonePe has allotted stock options worth USD 200 million (about Rs 1,458.6 crore) to its 2,200 employees, a month af ter the company was partially spun off from Flipkart. In December, Flipkart had announced the partial spin-off of PhonePe, as the digital payment firm had raised USD 700 million in funding, valuing it at USD 5.5 billion.