Razorpay plans ₹4,500 crore IPO (timeline not specified)
Razorpay is planning an IPO (timeline not specified), aiming to raise up to ₹4,500 crore through its IPO.
The company has reached out to Kotak Mahindra Capital and Axis Capital for banker pitches and may also do a pre-IPO secondary round to set its valuation.
Razorpay's latest valuation stands at $9.2 billion, up from $7.5 billion in 2021.
Razorpay's recent acquisitions and expansions
Started in 2014 by Harshil Mathur and Shashank Kumar, Razorpay helps businesses handle payments online, offers banking tools through RazorpayX, payroll for SMEs, lending options, insurance, loyalty programs and cross-border payments.
They recently bought a majority stake in POP UPI for $30 million and secured an RBI license for cross-border payment aggregation.
Financials and funding history
Razorpay has raised over $741 million from big investors like GIC and Tiger Global.
For FY25, it reported consolidated revenue of ₹3,783 crore and gross profit of ₹1,277 crore—but reported a net loss, with ₹1,209 crore in ESOP expenses and one-time costs linked to re-domiciling (including taxes) contributing to the loss.
Despite the loss, Razorpay remains a major player in India's booming fintech scene.