Razorpay files confidential DRHP for $600M+ IPO at $5-6B valuation
Payment gateway Razorpay has confidentially filed IPO papers targeting a $500-600M+ public issue at a $5-6B valuation. Backed by GIC, Y Combinator and Lightspeed, the company processes UPI, card and BNPL transactions for Indian retail and D2C merchants—making it critical checkout infrastructure for the consumer economy.
What happened
Razorpay confidentially filed IPO papers for a potential $600 million-plus issue at a $5-6 billion valuation. The payment gateway, backing UPI, cards and BNPL
Key facts
- $500-600 million
- $600-700 million
- $5-6 billion valuation
Why this matters
Razorpay's IPO filing signals a liquidity window opening for Indian payments infra—expect comp multiples to reset and acquisition currency to strengthen for adjacent fintech tuck-ins.