Consultant pictures solely. File | Picture credit score: Reuters
Fintech Razorpay has confidentially filed draft paperwork for an preliminary public providing (IPO) doubtless price about $600 million, folks aware of the matter stated. Reuters Monday (June 15, 2026) This confidential route permits firms in search of an IPO to maintain their filings non-public till the general public providing begins.
The Bangalore-based firm is backed by buyers together with Y Combinator, Lightspeed and Singapore’s sovereign wealth fund Authorities Funding Company (GIC), and goals to make its debut on the inventory market by the top of 2026, the folks added. The sources requested anonymity as these particulars are confidential.
Axis Capital, JP Morgan, Citi and Kotak Mahindra Capital are the bankers advising the transaction. Razorpay didn’t reply ReutersQueries for Monday (June 15, 2026). Emails despatched to Axis Capital, JP Morgan, Citi and Kotak Mahindra Capital additionally went unanswered.
Based in 2014, Razorpay supplies expertise that permits companies to simply accept and course of on-line funds via channels corresponding to playing cards, web banking, Unified Funds Interface (UPI), and digital wallets, and generates income by charging transaction charges to retailers.
The corporate has additionally expanded past its core cost gateway enterprise to supply payroll administration and service provider lending providers. Razorpay competes with fintechs corresponding to Paytm, Walmart-backed PhonePe, Cashfree and BillDesk in India’s burgeoning digital funds ecosystem.
Reuters Razorpay was unable to find out the valuation it’s focusing on for its IPO. The corporate was valued at roughly $7.5 billion in its newest main funding, which raised $375 million in 2021.
Paytm’s market capitalization stood at 718.5 billion rupees ($7.6 billion) on the final shut, whereas PhonePe suspended its much-anticipated IPO citing geopolitical tensions and volatility in world capital markets.
Indian markets soared to report highs over the previous two years earlier than beginning to battle this 12 months on account of uncertainty associated to the US and Israel’s warfare towards Iran. It can develop into the world’s second-largest IPO market after america in 2025, with 367 listings elevating $21.8 billion, in accordance with information from the London Inventory Trade Group (LSEG).
