Quick commerce unicorn Zepto to file IPO papers tomorrow
What's the story
Zepto, a Bengaluru-based quick commerce unicorn, is gearing up to pre-file its draft red herring prospectus (DRHP) on December 26. The move comes as part of the company's plans to go public sometime next year. This would make Zepto one of the youngest start-ups in India to list on stock exchanges, with an estimated public debut date in 2026—six years after its founding in 2020.
Market competition
Zepto joins the ranks of top quick commerce startups
Once Zepto goes public, it will join the likes of Eternal (Blinkit) and Swiggy (Instamart) in the public market. As of December 25, Eternal had a market cap of about $30 billion while Swiggy's stood at around $12 billion. This move would also mark a major milestone for an industry that didn't exist just five to six years ago: quick commerce.
IPO details
Zepto's IPO plans and financial standing
Zepto had reportedly appointed bankers in September and was looking to raise around $500 million through its IPO. The company's valuation is yet to be determined, but it was last valued at about $7 billion during a private market fundraise earlier this year. Despite intense competition from Blinkit, Swiggy, Tata's BigBasket, Flipkart Minutes, and Amazon Now, Zepto remains financially strong.