05:47 AM EDT, 03/16/2026 (MT Newswires) -- Walmart ( WMT )-backed (WMT) Indian fintech firm PhonePe said Monday it has temporarily deferred its public market listing process, citing ongoing geopolitical conflicts and market volatility.

The company will resume the listing process once global capital market conditions improve.

"We sincerely hope for a swift return to peace in all the affected regions," PhonePe Chief Executive Sameer Nigam said. "We remain committed to a public listing in India."

PhonePe counts US retail giant Walmart ( WMT ) among its investors.