IPO · Financial Services

Razorpay shortlists four bankers to helm $700 Mn IPO

By Startup Enthusiast · 14 February 2026

What they do

Razorpay offers a full-stack payments and financial services platform, spanning payment acceptance, disbursals, lending and business banking

The company is planning an IPO worth over $700 Mn, combining primary and secondary share issues

Razorpay aims to join other fintech players like Groww and Pine Labs that have recently listed on stock exchanges

Razorpay has shortlisted four investment bankers to oversee its upcoming initial public offering (IPO).
Axis Capital, Kotak Mahindra Capital, JP Morgan, and Citi are being considered as advisory firms for the IPO.
The IPO is expected to raise over $700 Mn, combining primary and secondary share issues.
Razorpay’s board approved the IPO proposal in March 2025, after the company completed a reverse flip to India.
Razorpay is aiming to join other fintech players like Groww and Pine Labs that have recently listed on stock exchanges.
Other fintech companies like PhonePe, Kissht, Turtlemint, and InCred Holdings have also filed draft red herring prospectuses (DRHPs) with SEBI.

The company’s operating revenue surged 65% YoY to ₹3,783 Cr in FY25, indicating strong financial performance.

Razorpay provides a full-stack payments and financial services platform, including payment acceptance, disbursals, lending, and business banking.
The company serves more than 8 Mn businesses across India and internationally.
Razorpay allows businesses to accept international payments through global cards, Apple Pay, and Google Pay at lower fees.
The platform offers solutions like payment gateways, payment links, one-click checkout, and in-store payments.
Razorpay also provides automated payroll solutions, effortless business banking, and advanced payment gateways.

Tiger Global (existing) — A venture capital firm that has invested in Razorpay.
Peak XV Partners (existing) — A venture capital firm that has invested in Razorpay.
Lightspeed (existing) — A venture capital firm that has invested in Razorpay.