Sameer Nigam

Founder & CEO - PhonePe

[Sameer Nigam @_sameernigam]

Have got numerous inquiries today asking us whether Rahul & I sold $430Mn worth of our shares 'for personal liquidity'. The short answer is - Absolutely Not!

In Sept 2025, all employees of @PhonePe , including both of us founders, were allowed by our Board and shareholders to exercise our vested ESOPs.

Exercise of ESOPs triggers an immediate tax obligation on employees in India. To meet our respective tax obligations, the Board also permitted us to sell a fixed number of our shares (== the exact amount of each employees/founders' tax obligation!) to GA via a secondary transaction.

The entire secondary capital was deposited to the company, which in turn deposited ~6000Cr total TDS to the tax authorities. NONE of us employees or founders got any personal liquidity as a result of this transaction.

[Sameer Nigam @_sameernigam]

😂

[Sameer Nigam @_sameernigam]

@somnath1978 Curious. How is buying XAU a lower friction purchasr than buying fractional gold using Digital Gold on n number of apps in India?

[Sameer Nigam @_sameernigam]

@somnath1978 Not true from a human psyche standpoint. The primary purpose of savings is to build a secure nest egg for a rainy day. The primary purpose of investment is to compound surplus wealth.

[Sameer Nigam @_sameernigam]

@Saccht39 We do have a broking license in our Investment company - https://t.co/jmpb9b7fG0. But as I said ETF is an investment product. For most Indians, small denominations of Gold is a savings product.

[Sameer Nigam @_sameernigam]

Time for a little myth busting -

- What is Digital Gold? Digital Gold is "Physical Gold sold digitally". It is NOT some sort of a digital token or speculative currency!

The main difference between buying physical gold online and buying Digital Gold is this:

- If you buy physical gold online, from say Tanishq or Caratlane's websites, then they ship the physical gold to the customer.

- If you buy digital gold, from say MMTC-PAMP or SafeGold, then your physical gold is stored in bank-grade secured vaults. It will be shipped to you anytime you ask for it, in multiples of 0.5gms.

For every Digital Gold purchase you get a formal tax invoice and a gold certificate, exactly as if you were buying physical gold in a retail shop.

- Purity level of Digital Gold? All leading Digital gold sellers sell either 99.9% or 99.5% purity gold. Same as most Gold ETFs. As such, there is no difference in purity levels.

- Consumer Protection – Even though gold is an unregulated sector, all large Digital Gold players do get audited to ensure that all gold purchased digitally is backed by an equal amount of physical gold stored in the vault.

Given that Digital Gold is becoming more popular in the country, there is definitely a case for stronger self-governance and audit in this sector. The Digital Gold industry players' recently decision to set up a self-regulatory body (SRO) to monitor quality controls and standardize audits and best practices is a welcome move in that direction.

- Tax Rates:
- 3% GST has to be paid when you buy gold – whether you buy Digital Gold or from a jeweler.
- Gold ETFs do not attract any GST, because the user cannot actually redeem the gold.

So why are lakhs of Indians choosing Digital Gold?

1. Fractional Buying - Most Indians want to, but cannot afford to buy large values (1+ gms) of Gold in one shot. Digital Gold allows Indians to buy fractional units of gold, which can be accumulated and redeem later. The average order value of one-off digital gold purchases is Rs 1000-3000/-, which is not enough to buy even 0.1gms of gold.

2. Daily savings habit - The most popular product in the Digital Gold market today is a daily gold accumulating plan called ‘Daily gold savings’ starting at Rs 10/- per day.

3. Convenience – Digital Gold gives them the option of having their gold stored safely and securely in a vault, instead of having to store somewhere in their own house.

4. Easy liquidity – Digital Gold can be sold online at any time, without the need to go into a physical jewellery shop.

[Sadhguru @SadhguruJV]

The raw energy of youth in rural Bharat should find joyful expression through some form of sport. Recognition & acknowledgement from mainstream sporting leagues like @PrimeVolley is a crucial step toward encouraging more and more rural youth to take to sport. Congratulations & Best Wishes. -Sg #IshaGramotsavam

[Sameer Nigam @_sameernigam]

Super excited to launch @PhonePe's first ever cobranded Credit Cards with @HDFC_Bank. Introducing Ultimo and Uno!

[PhonePe @PhonePe]

Your everyday spends deserve extraordinary returns. Introducing @PhonePe X @HDFC_Bank Credit Cards – Ultimo and Uno.

Earn 10% reward points* on UPI payments at ease. Unlock exclusive offers across shopping, dining, travel, and more.

Explore Now: https://t.co/kvAMEXb6t1

[Sameer Nigam @_sameernigam]

@Jayant7192 Not a chance. I love former entrepreneurs. They bring a priceless set of learnings and multi-dimensional thinking to the org.

I don't know the specifics of your brothers application. Please have him email me. I'll find out the real reason and let him know.

[Sameer Nigam @_sameernigam]

@Nithin0dha Just noticed something. Both countries had the same GDP per capita till 1975. China starts liberalising its economy, and its GDP per capita falls behind India right away. Then, India opens up in 1990 and falls behind for good. Unintended causality or weird coincedence?

[Sameer Nigam @_sameernigam]

Swag se karenge sabka payment 😀❤️🙏

[Ashwini Vaishnaw @AshwiniVaishnaw]

UPI का swag🤘
Payments made super easy.

[Sameer Nigam @_sameernigam]

Another proud milestone for all of us at @PhonePe!

We wouldn't be here without the sustained love and support from all our customers and partners.

Thank you 🙏

[PhonePe @PhonePe]

Thank you for placing your trust and support in PhonePe.
We've reached another important milestone, with revenue crossing ₹5,000 Cr and an adjusted Profit After Tax of ₹197 Cr for FY23-24.
Read more: https://t.co/pTgjjVtKqu

[Sameer Nigam @_sameernigam]

@dilipasbe @RBI @DasShaktikanta @NandanNilekani @nsitharaman @AshwiniVaishnaw @FinMinIndia @PMOIndia 1Bn/day by 2026!

[Sameer Nigam @_sameernigam]

My personal statement, clarifying my views on the Karnataka draft job reservation bill and its unintended consequences.

[Sameer Nigam @_sameernigam]

@san15saarthu @LavanyaBallal We employ a huge number of Kannadigas, but we didn't hire them *because they are Kannadigas*.

We hired them *because they were the best candidates* for the job. They happened to be Kannadigas.

You see the difference?

[Sameer Nigam @_sameernigam]

@indianmarket8 @Quiche368335 @AgentSaffron @PhonePe IMO all those bills should be shredded, too

Crores of young Indians need jobs. Govts should help industries grow faster. This will generate more jobs. Quotas of any kind hurt private businesses. We need policies that grow the pie. Not ones that merely slice it differently.

[Sameer Nigam @_sameernigam]

@BellamSwathi 🙏

[Sameer Nigam @_sameernigam]

I am 46 years old. Never lived in a state for 15+ yrs

My father worked in the Indian Navy. Got posted all over the country. His kids don't deserve jobs in Karnataka?

I build companies. Have created 25000+ jobs across India! My kids dont deserve jobs in their home city?

Shame.