RazorPay to look at IPO in FY-26, once in the black

Bengaluru: Financial services unicorn RazorPay is aiming to turn profitable in the next two years, pursuant to which will tap the market with a public issue in India. This it estimates will be sometime in FY26, according to co-founder and chief executive officer Harshil Mathur. Before this, the company will need to complete the process of shifting its domicile back to India, which is already underway and should be completed sometime this year, he added.

The company is looking to breakeven in the non-payments business, which accounts for 35 per cent of its total revenue and is still in the red, even as its payments business has turned profitable. RazorPay is processing $150 in total payment volume on an annualised basis as of February 2024, up from $90 million in November 2022.