Razorpay says IPO plans on track

BENGALURU: Fintech platform Razorpay said its plans to go public remain on track even as the fintech firm rolls out AI tools aimed at automating operational tasks and freeing up developer bandwidth.

"We are preparing for a public listing. Nothing changes from our side," cofounder and CEO Harshil Mathur told TOI on Wednesday. Media reports have indicated that Razorpay is preparing for an IPO eyeing around Rs 4,500 crore, with the fintech major targeting a public listing later this year.

The Bengaluru-based payments company on Thursday launched Agent Studio, a platform that allows merchants to deploy AI agents to automate financial and operational workflows on its payments platform. Mathur said the tools could significantly reduce the manual effort required to run an internet business. Tasks such as payment reconciliation, subscription payment recovery, report generation and system integrations can be handled by automated agents rather than finance or engineering teams. "Our employees, who are spending time doing basic stuff, are unlocked to do much more complex work," he said.