Razorpay confidentially files IPO papers with Sebi

Indian payment gateway services provider Razorpay Software has confidentially filed draft papers for an initial public offering with the country's market regulator, Sebi. The confidential filing route allows companies to keep their IPO details private until the public offering begins. Reports suggest Razorpay aims to raise between $600 million and $700 million, with a valuation pegged between $5 billion and $6 billion. Moneycontrol previously reported the issue could raise over $500-$600 million. Razorpay, backed by investors including GIC, Y Combinator, and Lightspeed, offers technology for online payments, transaction processing, and customer data protection.