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Bengaluru: Digital payments unicorn Razorpay has begun preparations for an initial public offering (IPO) and is aiming to raise around ₹4,500 crore through a fresh issue of shares, according to industry sources.
The fintech company has reportedly invited pitches from leading merchant bankers to manage the proposed offering. While discussions are still at an early stage, the IPO is expected to take place towards the end of 2026, subject to market conditions and regulatory approvals.
Key Step Towards Public Listing
As part of its IPO readiness, Razorpay recently converted into a public limited company and completed the process of shifting its domicile back to India, a strategic move that aligns with its plans to list on Indian stock exchanges. The company has also been working on strengthening its governance framework and compliance structures ahead of the public markets debut.
Industry insiders indicate that Razorpay may explore a pre-IPO funding round, largely through secondary transactions, to recalibrate its valuation before the main issue.
Business Performance and Growth
Founded by Harshil Mathur and Shashank Kumar, Razorpay is one of India’s largest payment solutions providers, offering services ranging from payment gateways and UPI solutions to banking and credit products for businesses.
The company has raised more than $700 million from global investors and was last valued at around $7.5 billion during its previous funding round. In the most recent financial year, Razorpay reported strong revenue growth, driven by increased adoption of digital payments and expansion of its merchant base, though profitability was impacted by one-time costs and employee-related expenses.
Expansion and Regulatory Progress
Beyond IPO preparations, Razorpay continues to expand its ecosystem. The company has made strategic acquisitions in the UPI and payments space and has secured key regulatory approvals to strengthen its cross-border payments and financial services offerings.
Outlook
Razorpay’s planned IPO is expected to be one of the most closely watched public offerings in India’s fintech sector. A successful listing could set the tone for other new-age technology companies looking to tap domestic capital markets and underline investor confidence in India’s rapidly growing digital financial services landscape.
Source: https://entrackr.com/news/razorpay-begins-ipo-preparations-eyes-rs-4500-cr-fresh-issue-report-10983677
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