MUMBAI: Fintech Razorpay has filed draft IPO papers with markets regulator Sebi through the confidential route, said people familiar with the matter, joining startup peers Zepto and Prism which are headed to Dalal Street for public listings. The Y Combinator and Peak XV Partners-backed company is seeking to raise up to Rs 6,000 crore through the IPO, sources said, adding that the final issue size and timing of launch will depend on market conditions. Razorpay declined to comment. The company was last valued at $7.5 billion.Razorpay, which rivals players such as Cashfree Payments and PayU in India, shifted its domicile from the US to the country in May last year. Startups looking to list in India have been increasingly moving their bases here to comply better with local regulations and cash in on the growth derived from the market. Razorpay is moving ahead with its IPO plans at a time when bigger fintech peer PhonePe has paused its listing due to the war-led market volatility.
