Zepto prepares IPO, seeks $3B valuation while courting anchor investors
Business
Zepto, the quick commerce startup you've probably seen zipping groceries to your door, is gearing up for its IPO.
It's aiming for a $3 billion valuation, way lower than last year's $7 billion mark after its big $450 million funding round.
The company has started chatting with anchor investors to get things rolling.
Zepto plans ₹5,000cr raise, ₹106cr selloff
Zepto plans to raise ₹5,000 crore through new shares and will offer a small chunk (around ₹106 crore) for sale from selling shareholders like Nexus Ventures and entities linked to Kaiser Permanente.
The main goal is to fuel growth and strengthen its finances as it competes with Blinkit and Swiggy Instamart.
If you're curious about price, according to discussions with investors, the indicative price is roughly ₹18.76 each.