Razorpay IPO: SEBI nod reported, expected size, date and how to apply
Razorpay's IPO got SEBI's nod, as reported on 3 and 4 November 2026. No price band or date yet. What is reported, what comes next and how to apply.
Razorpay, the Bengaluru payments company, has reportedly got SEBI's go-ahead for its IPO. There is no price band, lot size or opening date yet, so you cannot apply today. This guide gives what has been reported, what has to happen before the issue opens and how applying will work.
What has been reported
Moneycontrol reported on 4 November 2026 that Razorpay has received SEBI's approval for its IPO, citing a source familiar with the matter. Business Today reported the same day, citing Moneycontrol and Economic Times reports. Razorpay and SEBI did not respond to queries at the time. This is a media report, not an announcement by the company or SEBI.
The reports say:
- Issue size: up to ₹6,000 crore (about $633 million), according to Business Today. Moneycontrol put it at over $500 million to $600 million.
- Valuation: about $5 billion, according to both reports.
- Listing: as early as the first three months of 2027, if markets stay steady. Market conditions could delay it or change the size.
Treat all of these as estimates. The final size comes only from the red herring prospectus (RHP).
How Razorpay filed
Razorpay filed its draft papers with SEBI on 13 June 2026 through the confidential route, as reported by The Hindu BusinessLine. In this route the draft is not made public at first. Axis Capital, Kotak Mahindra Capital, JP Morgan and Citi were named as the bankers. The reports said the issue would be a mix of new shares and an offer for sale by existing investors, and that the final structure was not fixed.
What has to happen before you can apply
- The company files its updated draft papers in public after SEBI's observations.
- It files the RHP with the price band, lot size and opening and closing dates.
- The price band is announced at least two working days before the issue opens.
- Anchor investors bid one working day before the issue opens.
Until then there is no official IPO date. We will update this guide when the price band and dates are out.
How to apply when it opens
- Retail investors can bid up to ₹2 lakh in one application. One lot will be the minimum, and the lot size comes with the price band.
- Apply through your broker's app using UPI, or through your bank's net banking using ASBA. The money stays blocked in your account until allotment.
- Allotment and listing follow the T+3 timeline: shares list 3 working days after the issue closes. You can check your allotment on the registrar's site, as linked on our allotment status page.
- Live dates of IPOs that are open or coming up are on our IPO calendar.
About the grey market premium
There is no grey market premium for Razorpay that means anything yet, because there is no issue price to compare it with. The grey market premium (GMP) is unofficial. It comes from deals outside the stock exchanges that SEBI does not regulate, and it can be very different from the listing price.
Before you decide
Saifu is not a SEBI-registered investment adviser. This guide reports facts and news. It is not a recommendation to apply or not to apply. Investments in shares are subject to market risk. Read the risk factors in the RHP when it is out and decide for yourself.
Sources: Moneycontrol: Payments firm Razorpay gets SEBI nod for IPO, 4 November 2026, Business Today: Razorpay IPO, SEBI approval secured, 4 November 2026, The Hindu BusinessLine: Razorpay files confidential IPO paper, 15 June 2026.
Rules, rates and limits change. Check the official source linked above before you rely on a figure here. Posts never contain referral or affiliate links from the writer.
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