Razorpay Gets SEBI Nod For ₹6,000 Cr IPO

Fintech major Razorpay has received SEBI’s approval for its proposed ₹5,000-6,000 Cr IPO, sources told Inc42.

The IPO is expected to value the company at around $5 Bn, with a listing likely between January and March 2027, the sources added

The offering is expected to comprise a fresh issue as well as an offer-for-sale (OFS). However, the proposed split couldn’t be ascertained.

The development was first reported by Economic Times.

Founded in 2014 by Shashank Kumar and Harshil Mathur, Razorpay offers payment processing, business banking, payroll, and lending solutions. The fintech major filed its IPO papers through the confidential route in June, targeting a valuation of $5 Bn to $6 Bn, below the $7.5 Bn valuation it commanded in its last funding round in 2021.

Ahead of the listing, Razorpay shifted its domicile from the US to India. The company slipped into the red in FY25 due to ₹1,209 Cr ESOP expenses and one-time restructuring and tax costs linked to the move. Operating revenue rose 65% YoY to ₹3,783 Cr during the year.

(The story will be updated soon)

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