Ahead of its planned Initial Public Offering (IPO), PhonePe, a financial services firm, has brought Zarin Daruwala onto its board. Daruwala is the former CEO of Standard Chartered Bank for India and South Asia.
In February, PhonePe announced it was starting preparations for its IPO to list on Indian stock exchanges.
Daruwala led Standard Chartered Bank – India from 2016 until March 2025. Prior to her role at Standard Chartered, she was the president of ICICI Bank, overseeing the bank’s wholesale banking operations. Additionally, Daruwala was a board member of significant ICICI group companies, including ICICI Lombard – General Insurance and ICICI Securities. She has also served on the board of JSW Steel in the past.
In May, PhonePe appointed Sameer Nigam as chief executive, Rahul Chari as chief technology officer, Adarsh Nahata as chief financial officer, and Ankit Popat as company secretary, according to a report by Moneycontrol.
These executives will be the primary contacts for any regulatory issues or communications with the Reserve Bank of India (RBI) and market regulators like SEBI.
This announcement is part of PhonePe’s strategy to transition from a private to a public company ahead of its Initial Public Offering (IPO), as the report further noted.
In April, it was reported that PhonePe had shifted from being a private entity to a public company in preparation for its IPO, changing its name from PhonePe Private Limited to PhonePe Limited.
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