Razorpay eyes IPO; Sarvam’s $1.5 billion leap
Razorpay is planning an IPO at a lower valuation than its previous peak, while AI startup Sarvam is in talks for a $1.5 billion funding round. Indian IT executives are also leaving stable roles to build AI-first ventures.
Razorpay, a fintech unicorn, is preparing for an IPO in the coming weeks, aiming to raise $600-700 million at a valuation of $5-6 billion. This is a significant decrease from its previous peak valuation of $7.5 billion. The listing will test public investors' appetite for loss-making fintech firms. Meanwhile, AI startup Sarvam is in advanced talks for a $1.5 billion funding round, backed by Nvidia, Amazon, and HCLTech. Indian IT executives are leaving stable roles to build AI-first ventures, leveraging their client relationships and enterprise knowledge. These new startups are attracting strong interest from venture capitalists, particularly in the enterprise AI services space.
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