Now, MapmyIndia To Join Zepto’s Captable

Geotech company MapmyIndia is making an investment of INR 25 Cr in quick commerce unicorn Zepto. 

In an exchange filing, the company said that besides adopting its financial results for Q1 FY26, its board approved the acquisition of 75.2 Lakh CCPS of Zepto for INR 33.25 apiece. 

“The proposed investment is part of the company’s strategic initiative to enhance the capabilities and adoption of our suite solutions for the large and fast growing quick commerce industry,” the filing said. 

With the investment, MapmyIndia would acquire a minor 0.05% stake in the company. The deal is expected to complete within three months. MapmyIndia said it entered into a strategic business agreement with Zepto in August to provide the latter its SDK & API services.

The stake acquisition is in line with Zepto’s bid to increase domestic shareholding in it before it files for an IPO. Last month, NBFC Elcid Investments announced an infusion of up to INR 7.5 Cr in the startup to acquire 0.039% stake. 

While MapmyIndia didn’t disclose Zepto’s turnover for FY25, Elcid said the quick commerce major’s turnover stood at INR 11,109.9 Cr during the year as against INR 4,454.5 Cr in FY24. 

Besides the aforementioned listed entities, Zepto has been on a spree to add domestic investors to its cap table in 2025. In May, it brought in Motilal Oswal’s founders Motilal Oswal and Raamdeo Agrawal to its cap table via a $100 Mn secondary deal.

The startup’s push to reduce foreign ownership comes at a time when it is preparing to go public. While Zepto was initially eyeing a listing on the Indian bourses in 2025, it has deferred the plans to attain about 50% Indian ownership before its listing. 

Increasing domestic shareholding will help Zepto align with regulatory requirements, particularly India’s FDI rules. Besides, it will also keep the company away from potential regulatory troubles. In the past, ecommerce and quick commerce companies have come under the scanner of industry bodies like Confederation of All India Traders (CAIT), which have complained to the Competition Commission of India (CCI) about violation of norms by these companies, which are majorly owned by foreign entities.

As a result, trimming foreign ownership has sort of emerged as the flavour of the season for quick commerce players. Prominently, market leader Blinkit’s parent Eternal doubled down on this by limiting the foreign ownership in the company to 50% in April. 

Subsequently, Blinkit announced that it is moving to an inventory-led model. Under it, the company will buy products in bulk from brands and suppliers, store them in its dark stores, and then sell them directly to customers. 

This move is expected to improve Blinkit’s margins and help it reduce its cash burn. Notably, high cash burn has also been a major issue for Zepto, which posted a net loss of INR 1,248.6 in FY24. However, Zepto has slowed down in the past few months as it looks to control its expenses and turn profitable.