Zepto wins SEBI nod for $1 billion IPO, shares fall
Business
Zepto, the quick commerce startup, just got SEBI approval for its IPO, aiming to raise up to $1 billion, but its shares have dropped 30% in the unlisted market since April, sliding from ₹58 to ₹42.
That's a steep fall from their December peak of ₹68, and it's making investors a bit uneasy.
Zepto orders rise but investors cautious
Even with the share slump, Zepto's daily orders have jumped from around 1.5 million to over 2.5 million.
But tough competition from Blinkit, Instamart, and BigBasket, plus concerns about profitability, are keeping investors cautious.
Experts suggest waiting for Zepto's draft prospectus before investing; once listed in the next couple of months, Zepto will be the first pure quick commerce player on Indian stock exchanges.