India, Nov. 4 -- Fintech major Razorpay has received SEBI's approval for its proposed Rs.5,000-6,000 Cr IPO, sources told Inc42.

The IPO is expected to value the company at around $5 Bn, with a listing likely between January and March 2027, the sources added

The offering is expected to comprise a fresh issue as well as an offer-for-sale (OFS). However, the proposed split couldn't be ascertained.

The development was first reported by Economic Times.

Founded in 2014 by Shashank Kumar and Harshil Mathur, Razorpay offers payment processing, business banking, payroll, and lending solutions. The fintech major filed its IPO papers through the confidential route in June, targeting a valuation of $5 Bn to $6 Bn, below the $7.5 Bn valuation it ...