Razorpay IPO: Fintech Company Files Confidential Draft Papers with Sebi for Proposed Rs 5,000-6,000 cr IPO

New Delhi: Fintech firm Razorpay has confidentially submitted draft documents to markets regulator for an Initial Public Offering (IPO) with people familiar with the matter pegging the issue size in the range of Rs 5,000-6,000 crore.

In a public notice on Monday, the company said it has filed “the pre-filed draft red herring prospectus with Sebi and the stock exchanges… in relation to the proposed initial public offering of its equity shares on the main-board of the stock exchanges”.

The company did not disclose the size of the proposed issue.

Founded in 2014 by Harshil Mathur and Shashank Kumar, Razorpay offers payment acceptance, banking, payouts, payroll, lending and other financial services through an integrated platform.

The company serves millions of businesses across India, ranging from startups and small and medium enterprises to large corporates.

Razorpay attained unicorn status in 2020 and has since expanded beyond payments into a broader financial services ecosystem for businesses. Its offerings enable merchants to manage collections, payouts, payroll, cash flows and access to capital through a single platform.

The company is backed by investors including Peak XV Partners, GIC, Tiger Global, Ribbit Capital, Lone Pine Capital, Alkeon Capital and TCV.

The final issue size, valuation and timing of the IPO remain subject to regulatory approvals, market conditions and other considerations.

The confidential filing route allows companies to submit draft offer documents to Sebi for review without immediately disclosing sensitive business information to the public.

The filing comes at a time when rival fintech firm PhonePe has put its IPO plans on hold due to geopolitical tensions in West Asia and volatile market conditions.

The company was said to be targeting a fund raise of about USD 1.5 billion at a valuation of around USD 15 billion.