India, Jan. 10 -- Fintech major Razorpay has reportedly kicked off preparations for its potential initial public offering (IPO) by the end of 2026.

Sources told Economic Times that the unicorn has sought bids from merchant bankers, including Kotak Mahindra and Axis Capital, for the public issue. As per the report, the company's IPO will comprise a fresh issue of shares worth INR 4,500 Cr.

However, the timeline and final size of the public issue are still subject to changes.

The fintech major is also reportedly in talks to raise a pre-IPO round, which will primarily comprise a secondary transaction, to achieve a specific valuation benchmark. "Razorpay is well capitalised and is not looking to immediately raise any primary capital from t...