The Securities and Exchange Board of India granted final observations to Razorpay on November 3 and Sembcorp Green Infra on November 13. Sembcorp Green Infra plans to raise up to Rs 3,750 crore entirely through fresh equity to reduce corporate and subsidiary borrowings. Meanwhile, payments unicorn Razorpay processed its initial June submission via the confidential pre-filing route before securing regulatory clearance. The approvals allow both enterprises to progress toward their public market launches across 13 states and financial ecosystems.
Key points
Regulators cleared two major offerings in November, granting observations to Razorpay on…: Regulators cleared two major offerings in November, granting observations to Razorpay on November 3 and Sembcorp on November 13.
Sembcorp Green Infra will allocate its public offering proceeds toward paying down borrow…: Sembcorp Green Infra will allocate its public offering proceeds toward paying down borrowings across its parent firm and subsidiaries.
Prominent global backers supporting Razorpay's route to public markets include Peak XV Pa…: Prominent global backers supporting Razorpay's route to public markets include Peak XV Partners, GIC, and Tiger Global.
Sources checked by our analysis pipeline: 1
Razorpay filed draft documents with Sebi via the confidential route in June for an IPO.
Sembcorp Green Infra filed preliminary papers with the Securities and Exchange Board of India (Sebi) in August to raise up to Rs 3,750 crore through an IPO.
After examining the draft documents, the regulator issued its final observations to Razorpay and Sembcorp Green Infra on November 3 and November 13, respectively, the update showed.
Sebi's observations mark an important step in the IPO process, allowing the companies to proceed with preparations for their public issues, subject to applicable regulatory requirements.
Razorpay did not disclose the size of the proposed issue. However, people familiar with the matter estimate the issue size in the range of Rs 5,000-6,000 crore.
Founded in 2014 by Harshil Mathur and Shashank Kumar, Razorpay offers payment acceptance, banking, payouts, payroll, lending and other financial services through an integrated platform. The company serves millions of businesses across India, ranging from startups and small and medium enterprises to large corporates.
Razorpay attained unicorn status in 2020 and has since expanded beyond payments into a…
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