Razorpay gets SEBI nod for its IPO
By Abha Lohia · Editor ·
Razorpay: revenue, valuation and funding and every story →
SEBI approvalBengaluruFounded 2014
- Bengaluru-based Razorpay, started in 2014, offers payment processing and business banking tools
- The market regulator has cleared its public listing, which was filed confidentially in June
- It may list by early 2027 at about a $5 billion value, raising roughly $500-600 million, down from an earlier $7 billion plan
What happened
- SEBI approved Razorpay's IPO papers.
- Draft papers went in confidentially in June.
- Listing could come in the first quarter of 2027.
Why it matters
- Targets a $5 billion valuation.
- Issue may raise $500-600 million.
- Earlier plan was $700 million at $7 billion.
The business
- Provides payment processing to businesses.
- Offers business banking services.
- Founded in 2014 by IIT Roorkee alumni.
The founders
- IIT Roorkee alumnus
- IIT Roorkee alumnus
Who put in money
- Peak XV Partners Backer
- GIC Backer
- Tiger Global Backer
What happens next
- Listing targeted for early 2027
Up against
PayU
Words to know
- Confidential pre-filing
- A route that lets a company submit draft IPO papers to the regulator without making sensitive details public.
The numbers around it
Razorpay has 7 funding rounds in StopDown's archive, $800 million+ raised in all.
| When | Round | Amount | Led by |
|---|---|---|---|
| 17 June 2025 | Strategic | $30 million | Undefined |
| 20 December 2021 | Series F | $375 million | Undefined |
| 19 April 2021 | Series E | $160 million | |
| 18 June 2019 | Series C | $75 million | Undefined |
| 15 January 2018 | Series B | $20 million | Undefined |
| 27 October 2015 | Series A | $9 million | Undefined |
| 23 March 2015 | Accelerator | $120,000 | Undefined |
Financial Services in November 2026: 4 rounds with a disclosed amount, $166 million in all; the biggest was OnEMI (₹832 Cr). Every sector this year →
Other articles talking about it
Terms in this story
- IPO: An IPO, or initial public offering, is the first time a company sells its shares to the public and lists on a stock exchange. In India SEBI supervises it and the shares trade on the NSE and BSE. A retail investor can bid up to ₹2 lakh, and the issue stays open for three working days.
- SEBI: The Securities and Exchange Board of India (SEBI) is India's market regulator, set up in 1992. A startup meets it mainly through venture funds registered under the 2012 AIF rules, when it prepares an IPO, or when its product gives investment advice. A private startup raising from a few investors is first governed by the Companies Act.
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