Zepto is set for a $1.3 billion IPO, aiming to raise ₹11,000 crore by late 2026. Despite a 129 percent revenue boost, losses widened to Rs. 3,367 crore. The move follows shareholder approval and positions Zepto as the youngest venture-backed firm to go public in India.

platform for quick commerce According to people with knowledge of the situation who spoke to ET, Zepto has filed a confidential proposal for a $1.3 billion initial public offering with the Securities and Exchange Board of India (SEBI). The Aadit Palicha-led business hopes to raise an additional Rs. 10,000 crore roughly, with early investors selling shares to cover the remaining amount.

Zepto used the confidentiality route for better flexibility

Zepto can modify the IPO size prior to the public launch by using the confidential pre-filing method, which was previously used by Swiggy, Meesho, and Groww.

At a general meeting on December 23, Zepto obtained shareholder approval for the listing. The four-year-old business would become the youngest venture capital-backed new-age company to go public in India after moving its headquarters from Singapore to India in January.

Zepto IPO listing targeted for late 2026

The offering is planned for the July-September quarter of 2026, according to people familiar with the plans. Morgan Stanley, Axis Capital, HSBC, Goldman Sachs, JM Financial, IIFL Securities and Motilal Oswal are advising on the transaction.

Zepto recent funding and valuation

In October, Zepto raised $450 million in a mix of primary and secondary transactions, valuing the company at $7 billion. About $300 million of that round was fresh capital. As of late November, Zepto had roughly Rs. 7,000 crore in cash reserves, compared with Rs. 17,000-18,000 crore each for rivals Zomato and Swiggy.

Reactions to the IPO filing are mixed. Some people are calling it 'to be one of the most anticipated IPOs in India’s new-age startup space', while some are saying that 'this obsession with every new age loss making entity is not good. It will backfire one day.'

Zepto financial performance

For 2024-25, Zepto reported revenue of Rs. 9,669 crore, a 129 percent increase year-on-year. Net loss widened nearly threefold to Rs. 3,367 crore from Rs 1,214 crore in the prior year.

Zepto competes with Zomato-owned Blinkit, Swiggy’s Instamart, Flipkart Minutes and Amazon Now. A September note by BofA Securities estimated Blinkit held more than 50 percent of the quick-commerce market, with Zepto, Instamart, BigBasket, Flipkart Minutes and Amazon Now sharing the rest.