Razorpay Files Confidentially for IPO Worth ~$600M, Targets Late-2026 Listing

Indian fintech company Razorpay has confidentially filed draft papers for an initial public offering worth approximately $600 million, targeting a possible public listing by late 2026. The Bengaluru-based payments firm has appointed Axis Capital, JPMorgan, Citi and Kotak Mahindra Capital as advisers for the planned offering, according to a source familiar with the matter. Razorpay was last valued at around $7.5 billion in 2021. The confidential filing route allows the company flexibility to adjust its listing timeline based on market conditions while keeping sensitive financial details private during early-stage preparation.
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