PhonePe has filed draft IPO papers with SEBI via a confidential route and is looking to raise around ₹12,000 crore through a pure offer-for-sale (OFS), Moneycontrol reported. Its promoter, Walmart, along with Tiger Global and Microsoft, are the three shareholders looking to participate in the OFS. Earlier reports said that the firm was targeting listing valuation of ₹1.3 lakh crore.