New Delhi. The country’s well-known fintech startup Razor-Pay is soon going to enter the primary stock market.

The company has received the green signal from market regulator Securities and Exchange Board of India (SEBI) to launch its first public issue (IPO).

According to sources, the company is preparing to raise capital ranging from Rs 5,500 crore to Rs 6,500 crore through this public issue.

Razor-Pay had confidentially filed its documents with SEBI for its public issue in June 2026 under the confidential pre-filing route.

Under the confidential pre-filing route, companies can proceed with the initial IPO process without making their highly sensitive financial information public.

Through this IPO, the company aims to achieve a valuation of about $ 500 crore i.e. about Rs 49,000 to 50,000 crore. However, this figure appears to be slightly less than the previous valuation of the company.

Earlier, during a funding round in 2021, Razor-Pay had received a valuation of about $ 750 crore.

Let us tell you that this company, started in the year 2014 by Harshil Mathur and Shashank Kumar, who studied from IIT Roorkee, provides important services like digital banking, payment gateway and payment processing to the merchants.

Big global investors like Tiger Global, Peak XV Partners and GIC have invested in Razor Pay. In the market, this company competes with big companies like Paytm, Pay-U, Pine Labs, Cashfree Payments and Phone-Pe.

Of these rival companies, Pine Labs and Paytm are already listed companies on the domestic stock market. PhonePe is also expected to be listed by the end of 2026-27.

If we look at the recent financial position of the company, its total revenue during the financial year 2024-25 had reached Rs 3,783 crore with an impressive growth of 65 percent on an annual basis.

The company’s gross profit also increased to Rs 1,277 crore during this period. However, in the same financial year the company also suffered a net loss of Rs 1,209 crore.

The main reasons for this loss are believed to be the one-time expenses to the Employee Stock Ownership Plan (ESLOP) of the employees and the huge tax liability incurred during the process of bringing the company’s domicile from the US back to India (reverse-flip).

Razor-Pay has officially shifted its entire base to India by merging its US parent company with the Indian entity in May 2023, after which it is now all set to be listed on the Indian Stock Exchange.