Elcid To Raise Stake In Zepto With INR 7.5 Cr Investment

SUMMARY

Elcid Investments is increasing stake to 0.039% in quick commerce startup Zepto by making INR 7.5 Cr investment

The NBFC is making the investment by subscribing to Zepto’s CCPS representing 22,55,639 equity shares on a fully diluted basis

The total turnover of Zepto for the financial year ended March 31, 2025 stood at INR 11,109.9 Cr as against INR 4,454.5 Cr in FY24, as per the filing

Non-banking finance company (NBFC) Elcid Investments is increasing its stake in quick commerce giant Zepto by investing up to INR 7.5 Cr.

Elcid is making the investment by subscribing to Zepto’s CCPS representing 22,55,639 equity shares on a fully diluted basis, as per its BSE filing.

Post completion of this transaction, the final aggregate shareholding of Elcid Investments would be 0.039% of the share capital of Zepto.

The development was first reported by The Arc.

The total turnover of Zepto for the financial year ended March 31, 2025 stood at INR 11,109.9 Cr as against INR 4,454.5 Cr in FY24, as per the filing.

Zepto is raising the amount at over $5 Bn, its valuation in the last funding round, a company spokesperson told Inc42.

“Elcid, an existing shareholder, is increasing its stake to 0.039% as part of this round, a reflection of the updated, higher valuation,” the spokesperson added.

In November last year, Zepto raised $350 Mn in a round led by Motilal Oswal’s private wealth division. Prior to that, reports surfaced that Indian shareholding in Zepto would likely increase to around 35% post the round, which would be raised at a valuation of $5 Bn.

This comes at a time when Zepto is said to be slowing down to cut cash burn ahead of its IPO. The company is also scaling down its 10-minute food delivery service, Zepto Café, as it battles supply chain issues and a shortage of trained staff to run kitchens.

Amid all these, the quick commerce major has also pushed back its IPO plans to 2026. Last month, Zepto cofounder and CEO Aadit Palicha implied that the reason behind it was not a lack of readiness but a private funding opportunity.

Palicha told ET that Zepto did not file its DRHP as per its earlier 2025 timeline as the company is focused on strengthening its growth, profitability and domestic ownership.

Amid all these, Eternal-owned Blinit and Swiggy’s Instamart gained market share in the quick commerce segment in Q1 FY26, as per ICICI Securities.

Editor’s Note: The story and its headline have been updated to add extra information