MDR and AI Could Define Razorpay’s ₹6,000 Crore IPO Story
Razorpay’s long-anticipated public-market debut is increasingly being shaped by two acronyms that go to the heart of its business model: MDR, or merchant discount rate, and AI. Together, they capture the company’s push to deepen monetisation while building a more defensible technology stack ahead of a potential ₹6,000 crore IPO. The challenge is to show investors that Razorpay can convert scale into durable profitability without losing momentum in India’s crowded fintech market.
