Mumbai: Fintech major Razorpay has taken a significant step towards its stock market debut by confidentially filing draft papers with the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).
According to people familiar with the development, the IPO size is expected to be between Rs 5,000 crore and Rs 6,000 crore, although the company has not officially disclosed the amount.
In a public notice released on Monday, Razorpay confirmed that it has submitted a pre-filed Draft Red Herring Prospectus (DRHP) with SEBI and stock exchanges for the proposed listing of its equity shares on the main board.
Confidential Route Keeps Details Private
The confidential filing route allows companies to seek regulatory review without immediately making sensitive business information public.
Under this process, details related to financial performance, valuation, issue structure and other strategic information remain undisclosed during the initial review stage.
The final size of the IPO, valuation and launch timeline will depend on regulatory approvals, market conditions and investor demand.
From Startup to Fintech Leader
Founded in 2014 by Harshil Mathur and Shashank Kumar, Razorpay has grown into one of India’s leading fintech companies.
The company offers a wide range of business-focused financial services, including payment acceptance, banking solutions, payouts, payroll management, lending and cash-flow tools.
Today, Razorpay serves millions of businesses across India, ranging from startups and small enterprises to large corporations.
The company achieved unicorn status in 2020 and has steadily expanded beyond digital payments to build a broader financial services ecosystem for businesses.
Strong Investor Backing
Razorpay is backed by several prominent global investors, including Peak XV Partners, GIC, Tiger Global, Ribbit Capital, Lone Pine Capital, Alkeon Capital and TCV.
The filing comes at a time when India’s startup IPO market is witnessing renewed activity. It also follows reports that rival fintech company PhonePe has temporarily paused its IPO plans due to geopolitical uncertainties and volatile market conditions.
Market observers believe Razorpay’s proposed listing could become one of the most closely watched fintech IPOs in India, given its strong market presence and diversified business model.
