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.
The Indian government has launched an OFS to sell up to 6.5% of its LIC stake, opening for non-retail investors on August 4, 2026, at a floor price of Rs 382 per share, about 11% below Monday's close. The discounted offering is likely to pressure LIC shares in the near term as supply increases sharply.
More than a dozen major Indian companies including Bharti Airtel, ONGC, Pidilite, Nykaa, DLF, and Ather Energy report April-June 2026 earnings on August 4. Results span telecom, energy, consumer goods, real estate, and EV sectors, giving markets a broad read on corporate health mid-earnings season.
Amazon shares hit a new all-time high Monday, pushing its market cap above $3 trillion following a sustained post-earnings rally. The milestone places Amazon among the very few companies globally to reach this valuation, with investor focus on AWS and advertising growth driving the move.
Sensex Gains 500 Points as Oil Falls on Iran Talks
The Sensex rose around 500 points and the Nifty crossed 24,500 on Monday after Donald Trump announced talks with Iran, pushing oil prices lower. IndiGo, ITC, FMCG, and metals led the gains as cheaper crude eased cost and inflation concerns.
