Zepto gets SEBI approval for $1.3B IPO
What's the story
Zepto, a leading player in the quick commerce space, has received approval from the Securities and Exchange Board of India(SEBI) for its initial public offering (IPO). The company, co-founded by Aadit Palicha and Kaivalya Vohra in 2021, plans to raise between $1.2 billion and $1.3 billion through this offering. The IPO is likely to be a combination of fresh issues and an offer for sale (OFS) by early investors.
Approval process
Zepto's IPO approval via confidential filing route
The approval for Zepto's IPO comes through a confidential filing route, which gives the company more flexibility in deciding its issue structure and timing. This method also keeps sensitive financial information from being publicly disclosed. The move is seen as a strategic step by Zepto to prepare for its upcoming public offering without revealing too much information about its financial health.
Market competition
Zepto's market position and funding history
Zepto, which competes with Blinkit and Swiggy Instamart in the quick commerce space, was last valued at around $7 billion after a $450 million funding round in 2025. The company has raised over $2.3 billion so far. Its IPO is expected to be launched between July and September 2026, a move that will be closely watched as a benchmark for the entire quick commerce sector.
Financials
Financial performance and competition landscape for Zepto
In the fiscal year ending March 2025, Zepto reported a total income of ₹9,668.76 crore, more than double from ₹4,223.91 crore in FY24. However, its net loss also widened to ₹3,367.28 crore in FY25 from ₹1,214.67 crore in the previous fiscal year. The company is also facing intense competition in the dark store segment with players like Blinkit and Swiggy Instamart expanding their networks aggressively across India.