Indian fintech large Razorpay is getting ready to confidentially file for an preliminary public providing (IPO) within the coming weeks, as per media stories.

The corporate is anticipated to lift between $600 million and $700 million , with a valuation of round $5 billion to $6 billion. This might mark a decline from its peak valuation of $7.5 billion greater than 4 years in the past.

A confidential submitting permits companies to submit draft IPO papers to the Securities and Alternate Board of India (SEBI) with out instantly disclosing detailed monetary data to the general public. A number of Indian startups have adopted this route lately.

Based in 2014, Razorpay has grown quickly, reporting a 65% enhance in consolidated working income to Rs 3,783 crore within the monetary yr ending 2025. Nevertheless, it additionally posted a internet lack of Rs 1,209 crore, attributed partly to worker inventory possession prices and bills associated to shifting its domicile to India.

The corporate accomplished its “reverse flip” from america to India in 2025, a transfer that reportedly price round $150 million in taxes and was seen as a key step in direction of itemizing.

Alongside its IPO ambitions, Razorpay can also be looking for to broaden its enterprise mannequin past funds. The corporate has launched an AI-driven platform designed to automate monetary operations for companies.

CEO, Harshil Mathur mentioned, the goal is to evolve right into a full-stack monetary system: “The thought is to maneuver from being only a funds supplier to changing into a monetary working system for companies.”

The platform makes use of AI brokers to deal with duties equivalent to fee reconciliation, dispute decision, and transaction monitoring.

Mathur famous that whereas AI instruments exist throughout industries, integrating them instantly into fee infrastructure presents a brand new layer of performance. “Agentic platforms exist independently, however no one has constructed them instantly on prime of funds infrastructure,” he mentioned.

Razorpay mentioned the platform goals to assist companies automate advanced monetary workflows, together with duties that smaller firms could discover resource-intensive.  

Razorpay operates in a aggressive area alongside companies equivalent to Paytm, PayU and Cashfree.