Zepto turns public as IPO preparation gains pace
What's the story
Zepto, a leading player in the quick commerce sector, has officially transitioned into a public company. The Bengaluru-based firm has changed its name from Zepto Private Limited to Zepto Limited. This move comes after a special resolution was approved by its shareholders. The change is a major step in the company's journey toward an initial public offering (IPO).
Financial strategy
IPO plans and recent fundraising
In a regulatory filing with the Registrar of Companies, Zepto announced its intention to list its equity shares on one or more stock exchanges. The company is said to be preparing to file draft documents for an IPO, reviving plans it had earlier shelved this year. Recently, Zepto raised $450 million as part of its ongoing capital expansion ahead of the planned IPO next year.
Business expansion
Growth trajectory and financial performance
Zepto has witnessed tremendous growth, going from five lakh daily orders five quarters ago to 1.7 million now. The company has raised a total of $2.3 billion since its inception, including $1.8 billion since January last year. For the fiscal year 2024 (FY24), Zepto reported revenue of ₹4,454 crore more than double the ₹2,026 crore it had posted in FY23.