Leading Indian fintech company Razorpay is preparing to file a secret application for its initial public offering (IPO). The company is aiming to raise between $600 million and $700 million through this. The company is currently valued at between $5 billion and $6 billion. The secret filing will help the company file documents with SEBI without immediately disclosing its financial information to the public.

Despite a 65 percent increase in the company's revenue (Rs 3,783 crore) in FY25, Razorpay has also recorded a net loss of Rs 1,209 crore. The loss was mainly due to the shift of its headquarters from the US to India (reverse flip) and expenses related to employee shares. The company had to pay about $150 million in taxes for this headquarters shift.

More than just a payment service provider, RazorPay has now introduced a new platform powered by artificial intelligence (AI) to make financial transactions easier for businesses. It uses AI agents to automate payment verifications, dispute resolution, etc. The company aims to become a complete financial operating system for businesses.