IPO-bound Razorpay set to file confidential draft papers next week
What's the story
Razorpay, a leading fintech company based in Bengaluru, is reportedly gearing up for its Initial Public Offering (IPO). According to sources quoted by CNBC-TV18, the company plans to file a confidential Draft Red Herring Prospectus (DRHP) as early as next week. The move marks Razorpay's first step toward its anticipated Dalal Street debut in 2026.
Financial details
IPO estimates and potential valuation
The upcoming IPO is estimated to be worth between $500-600 million (approximately ₹4,700 crore to ₹5,700 crore). The issue will consist of a fresh issue and an offer for sale, with both parts likely to be equally divided. If estimates hold true, Razorpay's valuation at the time of its public listing could be between $5-6 billion.
Advisory team
Investment banks guiding Razorpay through IPO process
A team of top investment banks, including Axis Capital, Kotak, JPMorgan, and Citi, are advising on the issue. Their expertise will guide Razorpay through the complex process of going public. However, it's important to note that this timeline is dependent on regulatory approvals and could change based on market conditions or other factors.
Future outlook
AI's potential impact on payments, shopping
In a 2025 interview with CNBC-TV18, Razorpay's Co-Founder and CEO Harshil Mathur had said that artificial intelligence (AI) could revolutionize shopping and payment methods in the coming years. He likened this potential transformation to the way UPI changed digital payments in India. "This is a technological shift, like the way UPI was," Mathur said at the time.