When Will Razorpay IPO? It Pre-Filed a Confidential DRHP With SEBI

By Segmara Research · Published · Updated

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As of September 27, 2026, Razorpay has not confirmed a public listing date. Its most recent verified regulatory step is a confidential Draft Red Herring Prospectus (DRHP), which the company pre-filed with the Securities and Exchange Board of India (SEBI) and the stock exchanges on June 12, 2026 under the confidential filing route, CNBC-TV18 reported on June 15, 2026. The report put the planned issue size at roughly ₹5,000 to ₹6,000 crore, or about $500 million to $700 million, and said Razorpay could be valued at $5 billion to $6 billion at listing, below its 2021 private-market peak of $7.5 billion. That estimate follows the May 2025 completion of a reverse-domicile move that shifted Razorpay's parent entity from the United States back to India. The same report cited Razorpay's FY25 results: consolidated revenue grew 65% year on year to ₹3,783 crore, while the company posted a ₹1,209 crore net loss that it attributed to one-time ESOP and domicile-restructuring tax charges. No listing date, price band, or exchange debut has been reported beyond this filing. Track SEBI's disclosures and Razorpay's own statements directly, not secondary chatter.

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Key points

A confidential filing, not a public listing

On June 12, 2026, Razorpay pre-filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and the stock exchanges, using the confidential filing route, CNBC-TV18 reported on June 15, 2026. The report put the planned issue size at roughly ₹5,000 to ₹6,000 crore, or about $500 million to $700 million.

A confidential DRHP lets a company work through SEBI's review before its financials and structure become public, and it does not fix a listing date. No price band, exchange debut, or public prospectus has been reported for Razorpay beyond this pre-filing.

Where the valuation estimate comes from

CNBC-TV18's June 15, 2026 report said Razorpay could be valued at $5 billion to $6 billion once it lists, below the $7.5 billion valuation it reached at its 2021 private-market peak.

The estimate follows the completion, in May 2025, of Razorpay's reverse-domicile move, which shifted its parent entity from the United States back to India.

The financials behind the filing

The same report cited Razorpay's FY25 results: consolidated revenue grew 65% year on year to ₹3,783 crore.

Razorpay also posted a ₹1,209 crore net loss for the year, which the company attributed to one-time ESOP and domicile-restructuring tax charges rather than to its underlying operations.

Private-share data lens

Public round-by-round marks are incomplete for this company. Segmara shows the listing mark and keeps the seed-to-IPO analysis focused on verifiable funding, tender, or secondary signals.

Segmara markNo indicative price yet

Indicative listing context

StageDateValuation / price signalWhy it matters
Seed / earlyPrivateNot reliably publicDo not invent a seed price when the source set is thin.
Growth roundsPrivateCompany and market sources varyUse public sources and official company releases.
Segmara listingCurrentNo indicative price yetIndicative reference only, not a quote or an offer.
IPO statusCurrentNo public ticker shown hereWatch official company releases and the free Segmara IPO calendar.

Seed-to-IPO path

Illustrative completeness map. Longer bars mean stronger public data or more useful current pricing context, not lower risk.

Early data22%
Growth data46%
Segmara mark68%
IPO/public18%
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AI-ready data summary

A structured extraction layer for this article: catalogue numbers, price context, chart values, and route-specific facts that search and AI systems can read directly from the page.

MetricValueContext
Canonical route/blog/when-will-razorpay-ipoStable URL path for AI and search extraction.
Article titleWhen Will Razorpay IPO? It Pre-Filed a Confidential DRHP With SEBIMain page topic.
Attached public sources1Number of citation links rendered at the bottom of the article.
Segmara listed companies148Live private-company listings in the public catalogue.
Priced listings37Catalogue listings with visible indicative or direct marks.
Listings without an indicative price111Catalogue listings where a public price is intentionally not invented.
CompanyRazorpayNamed company covered by this page.
Symbol labelRZRPSegmara display symbol; not a public stock ticker unless separately stated.
SectorFintechCatalogue sector used for comparison and internal linking.
Listing structureRequestHow the listing is categorized on Segmara.
Segmara markNo indicative price yetVisible listing mark, or no indicative price yet.
Sector peer count16Number of live Segmara listings in Fintech.
Structure peer count111Number of live Segmara listings categorized as Request.
StageTimingPrice / valuation signalInterpretation
FormationPrivateEarly ownershipThe first value creation happens before ordinary public-market access.
Growth roundsPrivateInstitutional repricingLater rounds and tenders create the price history buyers study.
Segmara listingCurrentNo indicative price yetIndicative reference only, not a quote or an offer.
Exit pathFutureIPO, tender, acquisition, or continued private statusLiquidity timing remains company-specific.
Chart metricScoreInterpretation
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Analytical lens

Search intent

Searches like 'When Will Razorpay IPO? It Pre-Filed a Confidential DRHP With SEBI' are research questions: what a filing or a company statement confirms, what has only been reported, and what is still unknown.

What counts as a listing step

For an IPO, the primary record is a registration statement filed with the securities regulator of the listing market, such as an S-1 or F-1 on SEC EDGAR for a US listing. Funding rounds, valuations and secondary-market prices are context, not listing steps.

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What happens after payment

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Key takeaways

Risk notes

Public source links

PRE-IPO ALLOCATION

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Has Razorpay confirmed an IPO date?

No. As of the latest verified report, Razorpay has only pre-filed a confidential DRHP with SEBI on June 12, 2026, under the confidential filing route. No listing date, price band, or exchange debut has been confirmed.

What valuation could Razorpay reach at its IPO?

CNBC-TV18 reported on June 15, 2026 that Razorpay could be valued at $5 billion to $6 billion at listing, below its 2021 private-market peak of $7.5 billion. That figure comes from the same report on the confidential DRHP and has not been confirmed in a public filing.

What do Razorpay's latest financials show?

Per CNBC-TV18's June 15, 2026 report, Razorpay's consolidated revenue grew 65% year on year to ₹3,783 crore in FY25. The company also posted a ₹1,209 crore net loss, which it attributed to one-time ESOP and domicile-restructuring tax charges.

Can I buy Razorpay shares before the IPO?

Not through a public exchange. Razorpay remains a private company that has only pre-filed a confidential draft prospectus, and any private-share offer you encounter should be verified independently. Segmara does not sell, broker, or arrange purchases of Razorpay shares.

Pre-IPO Allocation

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