Razorpay files IPO papers confidentially

Razorpay, a fintech company backed by GIC, Y Combinator, and Lightspeed, has confidentially filed IPO papers with SEBI. The proposed public issue is expected to raise $500-700 million, with the company's valuation pegged at $5-6 billion. The confidential filing route allows the company to keep its submissions private until the public issue is formally launched.