PRESS RELEASE
3 June 2025

Induslaw Deal Report | Ribbit Capital - Razorpay

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CMS INDUSLAW

Contributor

CMS INDUSLAW is a top-tier full-service law firm and the 7th largest in India* with offices in Bengaluru, Chennai, Delhi, Gurugram, Hyderabad and Mumbai, which give it a pan-India presence. With more than 400 lawyers committed to client service, CMS INDUSLAW advises clients globally on Indian law. CMS INDUSLAW supports its clients’ transactional goals, business strategies and regulatory and dispute resolution needs. The CMS INDUSLAW team collaborates across practice areas, sectors and locations, navigating legal complexities and resolving legal issues efficiently for its clients.
Our firm advised Ribbit Capital on Razorpay’s successful reverse flip, shifting its parent company's domicile from the United States to India.
India

Our firm advised Ribbit Capital on Razorpay's successful reverse flip, shifting its parent company's domicile from the United States to India.

The cross-border group restructuring involved the amalgamation of the US-based holding company into its Indian subsidiary, making Razorpay a leading fintech unicorn, as a fully India-domiciled entity. This marks the first successful reverse flip from the US to India under the fast-track merger mechanism, approved by the Regional Director, Ministry of Corporate Affairs.

INDUSLAW Team:

Winnie Shekhar (Partner), Rashi Bharadwaj (Partner), Ravin Abhyankar (Associate) and Chandresh Goyal (Associate).

Kaushik Mukherjee (Partner) advised on capital markets-related aspects, while Unnati Agrawal (Partner) provided advice on competition law.

Contributor

CMS INDUSLAW is a top-tier full-service law firm and the 7th largest in India* with offices in Bengaluru, Chennai, Delhi, Gurugram, Hyderabad and Mumbai, which give it a pan-India presence. With more than 400 lawyers committed to client service, CMS INDUSLAW advises clients globally on Indian law. CMS INDUSLAW supports its clients’ transactional goals, business strategies and regulatory and dispute resolution needs. The CMS INDUSLAW team collaborates across practice areas, sectors and locations, navigating legal complexities and resolving legal issues efficiently for its clients.

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