Upcoming IPO: Razorpay gets SEBI nod for IPO launch: Top things to know about the issue

Detailed summary

SEBI has approved Razorpay’s IPO proposal, five months after the fintech confidentially filed draft documents. The company reportedly plans to raise $600 million, as it broadens beyond online payments into payroll, merchant lending and emerging AI-led commerce.

Market regulator SEBI has given the green light to fintech company Razorpay to proceed with its IPO plans, months after the company confidentially filed its draft IPO documents.

According to a SEBI document released on Friday, the market regulator has approved the company's proposal to raise funds from investors, five months after it confidentially filed its draft papers.

A confidential filing allows companies to submit draft documents to the regulator for review without making them public, helping protect sensitive information such as financial details and business strategies.

The company is looking to raise $600 million through the IPO, Reuters reported. The approval also comes at a time when sentiment in the Indian stock market has improved amid easing inflationary pressures following a sharp decline in crude oil prices.

The global fallout from the sell-off in AI-linked stocks has also prompted overseas investors to rotate funds back into domestic equities after largely overlooking Asia's largest economy for nearly two years.

Beyond its core payment gateway business, Razorpay has been expanding its offerings in areas such as payroll management and merchant lending services. It competes with fintech companies such as Paytm, Walmart-backed PhonePe, Cashfree, and BillDesk in India's rapidly growing digital payments ecosystem.

The fintech firm has been strengthening its technology offerings, expanding its international presence and exploring new growth opportunities ahead of its public listing. In October 2026, it partnered with OpenAI to help Indian brands launch and manage advertising campaigns on ChatGPT through its Razorpay Engage platform.

The partnership reflects the company's push into emerging AI-led commerce and advertising opportunities. Razorpay has also been expanding into payroll management and merchant lending, diversifying its revenue streams as it prepares to tap public markets.

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