:Razorpay confidentially filed its draft red herring prospectus (DRHP) on June 12 for an estimated $600 million IPO.
The company absorbed a massive ₹1,275 crore ($150 million) tax hit to redomicile from the US to India ahead of the listing.
Management is targeting a $5–6 billion valuation, accepting a down-round from its 2021 peak valuation of $7.5 billion.
FY25 operating revenue grew 65% to ₹3,783 crore, indicating strong core business momentum despite bottom-line net losses.
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