Razorpay receives SEBI approval for ₹5,000 to 6,000 crore IPO

According to a Business Standard report, leading fintech company Razorpay has received approval from market regulator SEBI for its proposed Initial Public Offering (IPO). The company plans to raise ₹5,000 crore to ₹6,000 crore through this IPO. In this entire process, the company aims to achieve a valuation of approximately 5 billion dollars. This development comes after the company submitted draft papers to SEBI through the confidential route in the month of June. Companies use this method to have documents reviewed by SEBI without disclosing sensitive business information.

Sources familiar with Razorpay's IPO confirmed this on Wednesday. The company currently serves millions of businesses in India, including startups, small and medium-sized enterprises, as well as large corporate companies. On the other hand, the IPO of rival fintech company PhonePe has currently been put on hold. Due to geopolitical tensions in West Asia and unstable market conditions, PhonePe halted its IPO process in March 2026. PhonePe was looking to raise over 1 billion dollars at a valuation of 9 to 10.5 billion dollars.

Razorpay was founded in 2014 by Harshil Mathur and Shashank Kumar. The company provides financial services such as payment acceptance, banking, payouts, payroll, and lending through an integrated platform. The company achieved unicorn status in 2020. Since then, the company has not remained limited to payments but has developed a comprehensive financial services ecosystem for businesses. This platform provides merchants with facilities like cash flow, payroll, and access to capital from a single place. The company is backed by investors such as Peak XV Partners, GIC, Tiger Global, Ribbit Capital, Lone Pine Capital, Alkeon Capital, and TCV.