Razorpay to file confidential DRHP within a week for Rs 5,700-cr IPO at $5-6B valuation
Bengaluru-based payments major Razorpay is set to file a confidential DRHP within a week for a $600M IPO, split evenly between fresh issue and OFS. The Peak XV, GIC and Tiger Global-backed firm targets a $5-6B valuation and CY2025 listing, post its reverse-flip to India. Axis, Citi, Goldman, JPM and Mahindra Capital are bankers.
What happened
Razorpay to file confidential DRHP within a week for $600M IPO (Rs 5,700 cr), targeting $5-6B valuation and listing by year-end. Issue includes $300M fresh and
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 and confidential filing playbook offers a template for India-domiciled fintech listings—watch for M&A currency creation post-IPO that could reshape payments consolidation.