Razorpay Files Confidential DRHP With SEBI For Rs 5,700-Crore IPO At $5-6 Billion Valuation

Peak XV-backed payments unicorn Razorpay has filed draft papers with SEBI via the confidential route for a $600 million IPO, split evenly between a $300 million fresh issue and $300 million OFS. The Bengaluru-based fintech is targeting a listing before year-end after reverse-flipping its domicile to India.

— Source publishedMon, 15 Jun, 2026, 11:46 IST·First seen Mon, 15 Jun, 2026, 12:53 IST·Source NDTV Profit

What happened

Razorpay filed a confidential DRHP with SEBI for a $600 million (Rs 5,700 crore) mainboard IPO, targeting a $5-6 billion valuation and a listing before

Key facts

  • Rs 5,700 crore
  • $600 million
  • $300 million fresh issue
  • $300 million OFS
  • $5-6 billion valuation

Why this matters

Razorpay's reverse-flip to India ahead of listing reinforces the domicile-shift template for India-revenue fintechs eyeing IPOs, and may accelerate consolidation timing windows for acquirers targeting payments assets pre-listing.