PhonePe has launched an Employee Stock-Option Plan (ESOP) buyback worth around ₹700-800 crore, covering at least 1,000 employees (potentially more). The move comes as the company gears up for its initial public offering (IPO), where it plans to raise about $1.2-1.5 billion and is eyeing a listing in early 2026 at a valuation of roughly $7-8 billion.