Razorpay Files Confidential DRHP With SEBI, Eyes ₹6,000 Cr IPO at ₹60,000 Cr Valuation
Bengaluru-based payments major Razorpay has confidentially submitted draft papers to SEBI for a ₹5,000-6,000 crore issue, targeting a ₹50,000-60,000 crore valuation. The filing follows its 2025 US-to-India reverse flip and comes as rival PhonePe pauses its own listing plans.
What happened
Razorpay confidentially filed draft IPO papers with SEBI, targeting a ₹5,000-6,000 crore issue at a ₹50,000-60,000 crore valuation. The fintech completed its
Key facts
- ₹5,000-6,000 crore issue
- ₹50,000-60,000 crore valuation
- $500 million+
- PhonePe $15 billion valuation
- PhonePe $1.5 billion fundraise
Why this matters
The post-reverse-flip listing playbook is now validated—accelerate any India-domicile restructuring if an IPO exit is on your 18-month horizon.