Razorpay is preparing to confidentially file for an IPO in the coming weeks, marking a major step toward its public market debut.
The Bengaluru-based fintech firm is aiming to raise between $600 million and $700 million through the offering.
However, the expected valuation is likely to be in the range of $5–6 billion, lower than its peak valuation of $7.5 billion achieved in 2021.
The confidential filing route allows companies to submit draft IPO papers privately before making details public, offering flexibility in volatile market conditions.
Razorpay has been actively preparing for its listing, including shifting its domicile to India and appointing major investment banks to manage the IPO process.
The move reflects a broader trend of Indian startups heading to the public markets, even as valuations adjust to new realities in the global tech ecosystem.
