Motilal Oswal Financial Services has invested Rs 400 crore in quick commerce startup Zepto, the Mumbai-based company said in a regulatory filing on Tuesday.
People briefed on the matter told ET that Motilal’s investment is part of a Rs 1,000 crore funding round by Zepto.
"Motilal Oswal has invested Rs 400 crore via secondaries and another Rs 600 crore is expected to come in from domestic investors, who will buy shares from Zepto's foreign investors," one of the persons said, adding that the round will also have a small primary component.
The person added that the round valued Zepto at around $5.4 billion, or around Rs 47,298 crore.
"Acquisition (of shares) is a part of the treasury investment book, executed with the objective of generating sustainable, long-term returns," said Motilal Oswal Financial Services.
Separately, Zepto is in the process of closing a primary round led by existing investors General Catalyst and Avenir Growth. This would also include a Rs 1,500 crore by Zepto's founders, for which they are raising debt from Edelweiss Alternative Asset and domestic family offices, and smaller credit funds.
The latest investments follow small stake purchases in Zepto by listed non-banking finance company Elcid Investments and homegrown mapping solutions firm MapmyIndia, both facilitated by Motilal Oswal's wealth management arm.
It comes amid Zepto’s plan to raise its domestic shareholding as the company prepares for a listing on the local exchanges.
Zepto CEO Aadit Palicha declined to comment.
ET had reported last August that Motilal Oswal Financial Services chairman Raamdeo Agrawal had backed Zepto in his personal capacity.
The four-year-old startup, which is currently working on arresting its cash burn, clocked Rs 11,109 crore in revenue in FY25, a sharp rise from Rs 4,454 crore in the year before, according to Elcid Investments’ regulatory filing in July.
People briefed on the matter told ET that Motilal’s investment is part of a Rs 1,000 crore funding round by Zepto.
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"Motilal Oswal has invested Rs 400 crore via secondaries and another Rs 600 crore is expected to come in from domestic investors, who will buy shares from Zepto's foreign investors," one of the persons said, adding that the round will also have a small primary component.
The person added that the round valued Zepto at around $5.4 billion, or around Rs 47,298 crore.
"Acquisition (of shares) is a part of the treasury investment book, executed with the objective of generating sustainable, long-term returns," said Motilal Oswal Financial Services.
Separately, Zepto is in the process of closing a primary round led by existing investors General Catalyst and Avenir Growth. This would also include a Rs 1,500 crore by Zepto's founders, for which they are raising debt from Edelweiss Alternative Asset and domestic family offices, and smaller credit funds.
The latest investments follow small stake purchases in Zepto by listed non-banking finance company Elcid Investments and homegrown mapping solutions firm MapmyIndia, both facilitated by Motilal Oswal's wealth management arm.
It comes amid Zepto’s plan to raise its domestic shareholding as the company prepares for a listing on the local exchanges.
Zepto CEO Aadit Palicha declined to comment.
ET had reported last August that Motilal Oswal Financial Services chairman Raamdeo Agrawal had backed Zepto in his personal capacity.
The four-year-old startup, which is currently working on arresting its cash burn, clocked Rs 11,109 crore in revenue in FY25, a sharp rise from Rs 4,454 crore in the year before, according to Elcid Investments’ regulatory filing in July.
