Razorpay Gets SEBI Approval for IPO Amid SFIO Case Against Top Executives
Bengaluru-based fintech company Razorpay has received approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO), marking a step forward in its plans to enter the public markets. The development comes as the company's senior executives, Harshil Mathur and Shashank Kumar, continue to face criminal proceedings initiated by the Serious Fraud Investigation Office (SFIO) over alleged compliance lapses involving a digital lending network.
According to various report spublished on November 13, a SEBI document showed that Razorpay had received regulatory approval for its IPO. The company had confidentially filed its draft IPO papers in June 2026, earlier.
Founded in 2014, Razorpay provides payment infrastructure that allows businesses to accept and process transactions through credit and debit cards, net banking, the Unified Payments Interface (UPI) and digital wallets. Its platform also offers payment and financial technology solutions to merchants and businesses.
The company competes...
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