Razorpay plans to confidentially file its draft IPO papers in the coming weeks, targeting a raise of $600, 700 million at a valuation of $5, 6 billion. The Bengaluru-based payments company last raised money at a peak valuation of around $7.5 billion, roughly four years ago, making this IPO a meaningful step down from that high-water mark. The confidential filing route lets companies gauge investor interest without making financials public at the outset, a path several Indian fintech firms have taken recently. Razorpay has been laying the groundwork for a while: it has appointed investment banks, shifted its domicile back to India, and is structuring the issue as a mix of fresh shares and secondary sales by existing investors. The reset valuation reflects a broader correction in tech and startup pricing since 2021, both in India and globally. For Razorpay, a successful listing would still represent one of the larger fintech IPOs in India in recent memory. Watch for the formal draft red herring prospectus filing and how Indian institutional investors price the deal relative to listed peers in the payments and fintech space.
Indian startups raised $5.2 billion across 501 deals in H1 2026, down 9% in value but up 7% in deal count year-on-year, per the Inc42 Indian Tech Startup Funding Report. The drop is driven by fewer mega-rounds, while AI funding surged 317% and growth-stage deal activity hit a multi-year high.
The BSE Sensex fell 893 points and the Nifty 50 shed 279 points on June 30, 2026, wiping out roughly Rs 6 lakh crore in investor wealth in a single session. Both indices dropped 1.16%, closing at 76,200.68 and 23,824.10 respectively.
Kotak Mahindra Bank shares fell nearly 3% to Rs 397.6 after CEO Ashok Vaswani announced plans to exit the bank. Investor concern now centres on succession timing and whether the bank's ongoing digital and deposit-growth strategy will stay on track.
South Korea's Kospi dropped 3% at Monday's open while Japan's Nikkei fell 1%, as escalating US-Iran conflict triggered a broad risk-off move across Asian markets. South Korea's heavy reliance on Middle East oil imports makes it especially vulnerable to geopolitical shocks of this kind.
