Industry Trends

Razorpay begins IPO preparations, invites banker pitches for 2026 listing: Report

Fintech major Razorpay has begun early preparations for a potential IPO, with a listing targeted around the end of 2026, according to the ET report. The Bengaluru-based company has invited proposals from merchant bankers, including Kotak Mahindra Capital and Axis Capital, to manage the proposed public issue, the report noted. As per the report, the IPO is expected to include a fresh issue of shares worth about Rs 4,500 crore. The final size and timing of the offering, however, remain subject to market conditions and board approvals. Alongside the IPO process, Razorpay is also exploring a pre-IPO funding round, largely through secondary stake sales, to establish a valuation benchmark ahead of a listing. Sources cited in the report said the company is well capitalised and is not looking to raise immediate primary capital from private markets. Razorpay was last valued at around $7.5 billion following a $375 million fundraise in 2021. The move towards a public listing comes nearly a yea...

Industry Trends

Budget 2026: India may peg nominal growth for FY27 at 10%

Union Budget of India: India's upcoming budget may target a nominal growth rate of around 10 percent. This is an increase from the estimated 8 percent for the current fiscal year. Economic growth is expected to remain strong. Inflation is also projected to rise in the next fiscal year due to base effects.