Fintech major Razorpay has formally begun its initial public offering (IPO) journey after confidentially filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and stock exchanges. The company is looking to raise Rs 5,000-6,000 crore through the public issue.
The Bengaluru-headquartered company is backed by a marquee set of investors, including Y Combinator, Peak XV Partners, Lightspeed Venture Partners, Tiger Global and GIC.