Razorpay gets Sebi nod for ₹5,000-6,000 crore IPO; eyes $5 billion valuation
The company submitted its draft IPO papers with Sebi through the confidential route in June
Fintech company Razorpay has received Sebi's nod for its ₹5,000-6,000 crore IPO, according to sources familiar with the matter. The company aims for a $5 billion valuation through the public offering, which is part of the broader effort to provide financial services to businesses. After filing its draft IPO papers with Sebi in June, Razorpay, founded by Harshil Mathur and Shashank Kumar, is set to capitalize on its success in serving millions of businesses with payment, banking, payouts, payroll, lending and other services.
The company, which became a unicorn in 2020, offers a comprehensive financial services platform for merchants, including collections, payouts, payroll, cash flow management and access to capital. Backed by investors like Peak XV Partners, GIC, Tiger Global, Ribbit Capital, Lone Pine Capital, Alkeon Capital and TCV, Razorpay's IPO is a significant step in its expansion beyond payments.
Rival fintech firm PhonePe's IPO is currently on hold due to geopolitical tensions and market volatility.
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