Payments unicorn Razorpay receives SEBI approval for Rs.6,000-Cr IPO

Bengaluru-based Razorpay has received approval from SEBI for its proposed initial public offering, which is expected to raise INR 5,000-6,000 crore. The company is targeting a valuation of approximately USD 5 Billion, which is lower than the USD 7.5 Billion valuation achieved during its last funding round in 2021. The listing is likely to occur between January and March 2027.Founded in 2014 by Shashank Kumar and Harshil Mathur, Razorpay provides services including payment processing, business banking, payroll, and lending solutions. Ahead of the planned listing, Razorpay completed a domicile shift from the United States to India.