Razorpay files confidential DRHP for ~$600M IPO at expected premium to 2021's $7.5B mark
Bengaluru-based payments major Razorpay submitted a confidential DRHP to SEBI targeting roughly $600M, post a reverse-flip to India that cost ~$150M in taxes. FY25 revenue rose 65% to Rs 3,783 Cr with gross profit up 41% to Rs 1,277 Cr, though Rs 1,209 Cr in ESOP charges weighed on the bottom line. Axis, Kotak, JPM and Citi are bookrunners.
Razorpay filed a confidential DRHP with SEBI for a roughly $600 million IPO, having reverse-flipped to India and grown FY25 revenue 65% to Rs 3,783 crore despite ESOP-driven losses.