As per sources who spoke to CNBC-TV18, the financial services player is set to file a confidential Draft Red Herring Prospectus (DRHP). This DHRP may come in sometime as early as next week.
As per estimations, the Razorpay IPO size is pegged at about $500–600 million or about ₹4,700 crore to ₹5,700 crore. The issue will comprise of both a fresh issue and an offer for sale. Here, the fresh issue and Offer for Sale components are likely to be split roughly 50:50.
The fintech company, as per sources, is a Dalal Street debut in 2026 itself. The stock’s listing this year and how fast it will come to pass will be subject to regulatory approvals.
Razorpay, as per estimates, could be valued at about $5–6 billion in the IPO.
Axis Capital, Kotak, JPMorgan, and Citi are the investment banks managing or advising the issue.
It is to be noted that CNBC-TV18 is awaiting comments from Razorpay.
In 2025, while speaking to CNBC-TV18, Harshil Mathur, Co-Founder and CEO of Razorpay, said that Artificial intelligence (AI) could transform the way people shop and pay over the next few years, much like how UPI reshaped digital payments in India.
While speaking on the sidelines of the Global Fintech Festival in 2025, Mathur also added, ““This is a technological shift, like the way UPI was. It will take time for people to adopt it,” Mathur said, adding that Razorpay is not looking at the immediate revenue potential of AI-led payments but at their long-term impact. “If I look at the next five years, will this become a primary way people consume commerce? I believe so.”
Also Read: AI payments could become the new UPI in five years: Razorpay CEO Harshil Mathur
(Edited by : Juviraj Anchil)
First Published: Jun 13, 2026 8:30 AM IST
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