The Razorpay IPO has received SEBI's approval, as per an Economic Times report on 3 November 2026. The issue is expected to raise ₹5,000-6,000 crore. The report cites people aware of the matter, and neither the company nor SEBI had confirmed it in the report.
What the report says
The Bengaluru fintech is targeting a stock market debut as early as December. It is also working towards a listing in the first quarter of calendar year 2027. The report adds that volatile market conditions could push the listing later.
So there are two timelines in the report. December is the earliest case. The first quarter of 2027 is the working plan.
| Item | What is reported |
|---|---|
| Status | SEBI approval received |
| Issue size | ₹5,000-6,000 crore |
| Earliest listing | December 2026 |
| Working plan | January-March 2027 |
| Source | People aware of the matter, via Economic Times |
What we already know about the issue
In May, we reported that Razorpay's shareholders had approved a fresh issue of up to ₹2,700 crore. That figure came from filings with the Registrar of Companies. As we covered then, the rest of the issue would be an offer for sale (OFS), where existing investors sell some of their shares. You can read that earlier story in our report on Razorpay's valuation plans.
The company was founded in 2014 by Harshil Mathur and Shashank Kumar. It processes payments for businesses, and also runs neo-banking, lending and payroll products. Investors include Tiger Global, Sequoia and GIC.
Why this matters
Razorpay is one of India's best-known payments companies. Many readers know the brand from payment links and checkout pages on shopping sites, which is why this IPO draws attention.
What happens next
SEBI's approval is not the launch. After approval, a company files its red herring prospectus (RHP), the final offer document, and then announces the price band and dates. Approval from SEBI is usually valid for 12 months.
Razorpay has not announced a price band or an opening date. Until it does, any date is only a target. We track the grey market and dealer prices for the company on the Razorpay unlisted share page. Unlisted prices are dealer quotes, not exchange prices.
For other names waiting in the queue, see upcoming mainboard IPOs.
