The Bengaluru-based payments company completed its domicile shift to India in May last year, a key step toward pursuing a domestic listing. Razorpay had previously been headquartered in the United States, a structure commonly adopted by Indian startups backed by global investors.
Razorpay’s filing adds to a surge in confidential IPO submissions in India this year, as companies increasingly seek greater flexibility over listing timelines and reduced disclosure requirements during the early stages of the process.
Unlike traditional IPO filings, where draft prospectuses are made public immediately upon submission to the market regulator, confidential filings remain private until they receive regulatory approval. Companies are then required to publicly disclose the prospectus for at least 21 days before proceeding with the offering.
Founded in 2014 by IIT Roorkee alumni Harshil Mathur and Shashank Kumar, Razorpay provides payment processing and banking solutions for businesses, according to the company website. The company counts GIC, Tiger Global Management, Peak XV Partners, Matrix Partners India, Lightspeed Venture Partners and Ribbit Capital among its investors, website showed.
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