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New Indian Express
5 days ago
- Business
- New Indian Express
Razorpay shifts domicile to India from US, will pay Rs 1,275 crore in taxes
BENGALURU: Fintech unicorn Razorpay has shifted its domicile from the US to India. Sources confirmed that the company will pay about $150 million (Rs 1,275 crore) in taxes and that it is aiming to go public before the end of CY2026. Earlier, it was reported that the company might make a tax payout of around $200 million to US authorities. On Thursday, the company confirmed the reverse flip to India. Razorpay's co-founder & MD Shashank Kumar said, "Yes, we've officially completed our reverse flip, and we couldn't be more proud. This move marks a pivotal milestone in Razorpay's journey. It is more than a structural move; it's a powerful signal of belief."
Time of India
5 days ago
- Business
- Time of India
Razorpay completes reverse flip to India, moves global HQ from US
Razorpay completes reverse flip to India, moves global HQ from US BENGALURU: Fintech unicorn Razorpay has officially completed its reverse flip back to India, shifting its parent company's domicile from the US to India, the firm's co-founder and managing director Shashank Kumar said on Thursday. The move makes India the company's global headquarters, marking one of the most high-profile reversals of the earlier trend among Indian startups of flipping overseas for regulatory or investor access. 'Yes, we've officially completed our reverse flip, and we couldn't be more proud,' Kumar said in a statement. 'This move marks a pivotal milestone in Razorpay's journey. It is more than a structural move; it's a powerful signal of belief, belief in India's economic future, our regulatory ecosystem, and in the incredible potential of homegrown innovation.' Founded in 2014, Razorpay offers a suite of digital payment and banking solutions to Indian businesses and has grown into one of India's leading fintech players. Like many startups in its cohort, Razorpay had earlier flipped its holding structure to the US in pursuit of global capital and regulatory flexibility. The company's move to reverse that structure comes amid growing calls from Indian regulators and policymakers for high-growth startups to anchor themselves domestically. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo 'We started Razorpay with a dream to build for India, and today, we're doubling down on that dream by making India not just our largest market, but our global headquarters,' Kumar said, calling the decision a reflection of 'deep-rooted confidence that India is no longer just a great place to build from, it's the best place to lead from.' In April, Razorpay transitioned into a public limited company, signalling a step forward in their long-term plans to go public in India. The move begins the process of public company compliance well in advance of its anticipated IPO in about two years, ensuring timely adoption of governance protocols. Razorpay is expected to target an IPO between 2026 and 2027 financial years. Valued at about $7 billion, Razorpay recorded Rs 2,068 crore in revenue and a profit of Rs 35 crore in the 2023-24 financial year. Other fintech companies such as Paytm and MobiKwik, are already listed on Indian exchanges, while Pine Labs and PayU are also planning IPOs in the coming year. Razorpay joins a small but growing group of Indian startups, including Groww and Zepto, that have either completed or initiated reverse flips in recent quarters. The trend is being closely watched by the startup and investor community, especially as India strengthens its digital infrastructure, eases compliance norms, and signals openness to homegrown tech going public on Indian bourses. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
5 days ago
- Business
- Business Standard
Fintech firm Razorpay completes reverse flip from US to India ahead of IPO
Fintech firm Razorpay has joined a growing list of firms to reverse flip, shifting the domicile of its parent company from the United States to India as it prepares for an initial public offering (IPO). The shift comes weeks after the company converted itself into a public limited company. "Yes, we've officially completed our reverse flip, and we couldn't be more proud. It is more than a structural move; it's a powerful signal of belief. We started Razorpay with a dream to build for India, and today, we're doubling down on that dream by making India not just our largest market, but our global headquarters,' said Shashank Kumar, cofounder and managing director (MD), Razorpay. At present, many Indian startups are domiciled in countries such as Singapore, Mauritius, the United States, the United Kingdom, and Germany. The startup homecoming is driven by factors such as financial regulation, better access to capital, and improved valuations in the country, Business Standard reported last year. Fintech major PhonePe had to pay about $1 billion in capital gains taxes to the Indian government to complete the domicile shift back to the country. The company reverse flipped from Singapore more than two years ago. Stock broking platform Groww formally moved its domicile back to India from the US through a reverse flip by its parent firm in May last year. Quick commerce platform Zepto, too, shifted its domicile from Singapore to India earlier this year. E-commerce giant Flipkart, based and operating in India, signalled its intent to relocate its holding company from Singapore to India as the company prepares for an IPO.
Time of India
25-05-2025
- General
- Time of India
UPSC prelims: Candidates find geography section most difficult
1 2 Patna: IAS aspirants found this year's UPSC civil services preliminary examination papers slightly tougher than previous years with many describing the geography section as the most challenging. Shashank Kumar, who appeared for the exam at the College of Commerce, Arts and Science, said, "The questions were tougher compared to last year, especially in geography as 23 questions were from that section alone. Most were conceptual and based on current affairs. This was my second attempt. I cleared the prelims last year but didn't perform well in the mains. This time, I attempted 70 questions." Arushi Agarwal, a first-time aspirant, described the paper as moderate but said the experience was intense. "The pattern was more or less the same as before, but there were more comprehension-based questions. Except for the general science section, most areas were either moderate or difficult. I got a good sense of the pressure one faces during what is arguably the toughest exam in the country," she said. Pankaj Sinha, who wrote the exam at Magadh Mahila College, observed significant variation in this year's paper. "The science, technology and economics questions ranged from easy to moderate. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kickstart your new journey with the Honda Shine 125 Honda Learn More Undo Most economics questions were from the static part. Very few were linked to current events. Geography and economics were the most demanding. However, the language of the exam was simpler than in past years," he said. Despite the challenging content, the exam was conducted smoothly across Patna. Nearly 60% of registered candidates appeared for the test held at 91 centres in the city. A total of 44,063 candidates sat for the exam across the state. Patna district magistrate Chandrashekhar Singh said, "Almost 60% of candidates appeared across both shifts. Attendance in the first shift was 60.48% (26,647) with 17,415 absent. In the second shift, 60.09% (26,478) appeared and 17,584 were absent. The exam was conducted peacefully and no candidates were expelled." The first paper, general studies, was held from 9.30am to 11.30am while the second paper, the civil services aptitude test (CSAT), took place from 2.30pm to 4.30pm. The administration maintained tight security and order at all centres throughout the day.
Entrepreneur
21-05-2025
- Business
- Entrepreneur
Razorpay Joins Hands with MeitY Startup Hub to Boost 100 AI Startups
Startups onboarded through MSH will gain complimentary access to Razorpay's suite of products—including its payment gateway, payout solutions, and corporate credit cards. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Fintech giant Razorpay has announced a strategic partnership with the MeitY Startup Hub (MSH) to nurture and scale 100 early-stage artificial intelligence (AI) startups over the next two years. This initiative aims to empower startups with access to Razorpay's robust fintech infrastructure, expert mentorship, and vital networking opportunities. "India's tech ecosystem has always been a cradle for innovation. Today, it is further strengthened by the capabilities of Artificial Intelligence," said Shashank Kumar, Managing Director and Co-founder of Razorpay. "The aim is to help young entrepreneurs unlock the potential of AI to solve real-world problems at scale." Startups onboarded through MSH will gain complimentary access to Razorpay's suite of products—including its payment gateway, payout solutions, and corporate credit cards. Additionally, Razorpay will conduct workshops and one-on-one mentorship sessions focused on navigating regulatory challenges and building scalable, compliant fintech operations. "The collaboration aims to identify, nurture, and support high-potential AI startups by equipping them with technical know-how, financial infrastructure, and mentorship from industry veterans," Razorpay said in a statement. Arif Khan, Chief Innovation Officer at Razorpay, emphasized the mission's grassroots focus. "Most transformative ideas often begin in unlikely places, with a lone founder solving a real problem, fueled by belief more than resources. But turning belief into a business takes more than just passion; it needs the right infrastructure, the wisdom of those who've walked the path, and a community that has your back," he said. "This partnership with MeitY Startup Hub is about doing just that." Over the past two years, Razorpay has supported over 450 startups through initiatives such as its flagship Rize programme. MSH, which functions under the Ministry of Electronics and Information Technology, collaborates with more than 400 incubators across India to promote entrepreneurship and technological advancement. "At MeitY Startup Hub, we believe collaboration between government and industry is key to fostering innovation," said Jeet Vijay, CEO of MSH. "Through this partnership with Razorpay, we aim to nurture 100 AI-focused startups, providing them with the right tools and mentorship to thrive."
