Zepto To File IPO Papers In 2-3 Weeks: Report

SUMMARY

Zepto will file the draft IPO papers with SEBI via the confidential route

The public issue will comprise a fresh issue of $450 Mn to $500 Mn as well as an offer for sale by early investors

The startup is eyeing public listing by July-September next year

Quick commerce major Zepto has restarted its IPO plans and is reportedly looking to file its DRHP in the next two-three weeks.

The startup will file the draft IPO papers with SEBI via the confidential route, ET reported.

The public issue will comprise a fresh issue of $450 Mn to $500 Mn (about INR 4,000 Cr to INR 4,500 Cr) as well as an offer for sale by early investors. However, this number is not final and could change depending on Zepto’s cash burn, the report added.

The startup is eyeing public listing by July-September next year.

Zepto declined to comment on the matter.

Notably, Zepto was earlier planning its public listing in 2025 or early-2026. However, it deferred the IPO plans to focus on growth, profitability and increase domestic ownership.

As part of its preparations for IPO, Zepto shifted its domicile to India from Singapore earlier this year. Following that, it also renamed its registered entity to Zepto Pvt Ltd in April from Kiranakart Technologies Pvt Ltd.

Last month, Zepto raised $450 Mn (around INR 3,955 Cr) in a funding round, which was a mix of primary and secondary capital, at a valuation of $7 Bn. Following the fundraise, the startup, which competes with Eternal-owned Blinkit and Swiggy Instamart in the rapidly growing quick commerce segment, has been making efforts to increase its market share. As part of this, it has waived handling fee and surge fee for its customers.

Prior to the funding round last month, Zepto also secured INR 400 Cr (about $45.7 Mn) from financial services company Motilal Oswal Financial.

Ahead of the IPO, Zepto is looking to grow its market share and improve its top and bottom lines. As part of this, the company has also been taking cost-cutting measures. Inc42 reported last month that Zepto laid off nearly 500 employees since April this year in a restructuring exercise.

On the financial front, Zepto’s revenue grew 149% to INR 11,100 Cr in FY25 from INR 4,454 Cr in the previous fiscal year. While its bottom line number for the reported period is not available, the startup posted a loss of INR 1,248.64 Cr in FY24.