A major Indian digital payments firm is secretly planning to enter the stock market. Financial technology platform Razorpay submitted its initial public offering (IPO) papers confidentially to the market regulator. This special confidential method keeps the document private until the actual launch happens.
Information from a source shows that the business wants to collect around 600 million dollars from the public. The firm wants to list its shares on the stock market by the final months of the year 2026.
Harshil Mathur and Shashank Kumar started this technology firm in the year 2014. The founders completed their education at IIT Roorkee. The enterprise helps merchants take money online from customers. It processes transactions through mobile wallets, internet banking, bank cards, and Unified Payments Interface. The company gets its money by collecting a service fee from these online merchants. Now, the business also gives out merchant loans and provides payroll management services to companies.
Many big international investors support this business. The firm gets financial backing from Lightspeed, Y Combinator, Tiger Global Management, and Peak XV Partners. Singapore’s sovereign wealth fund, which is GIC, also protects the firm with investments. The business gathered 375 million dollars in its big funding round in the year 2021. That investment valued the company at 7.5 billion dollars. The current targeted valuation for this new public issue is not public yet.
Top banking institutions are helping the business with this stock launch. Kotak Mahindra Capital, JP Morgan, Axis Capital, and Citi are working as the financial advisors. None of these banks gave a reply to questions on Monday. The main firm also did not reply to any messages.
The news of this entry created a positive environment for similar businesses on Monday. Shares of other financial technology firms gained value during the trading session. One MobiKwik Systems grew over 5 percent. The parent firm of Paytm, which is One 97 Communications, went up by 4 percent. Pine Labs also grew by more than 2 percent. Investors believe this launch will bring fresh money into the Indian digital payment sector.
India is a very big market for public listings. The country became the second-biggest market globally for new listings in the year 2025. It had 367 stock listings that collected 21.8 billion dollars. Currently, local markets are facing global pressures from the United States-Israel conflict with Iran. Other competitors are also changing their plans. PhonePe stopped its public issue process due to global political tensions and market changes. Paytm holds a market value of 718.5 billion rupees.
Disclaimer: This article contains general news about an IPO for informational purposes only. Readers must consult financial experts before making any investments in the stock market.
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