India, May 31 -- Fintech major Razorpay will likely pay approximately INR 1,245 Cr (around $150 Mn) in taxes to the Indian government as part of its reverse flip to the country, sources close to the development told Inc42.

The sources further added that the startup is also targeting an initial public offering (IPO) in the next two years.

The amount of tax liable for shifting a domicile from one country to another is determined by the company's valuation. Razorpay was valued at $7.2 Bn when it last raised funding of $375 Mn in 2021.

Moneycontrol reported the development first.

Razorpay recently completed the reverse flip, merging its Delaware-registered parent entity with Indian subsidiary, Razorpay Software India Pvt Ltd, to consolida...