Quick Commerce Unicorn Moves Closer to Public Listing; Nexus Ventures Leads OFS
Quick commerce platform Zepto has filed its updated draft red herring prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI), taking a major step toward its much-anticipated stock market debut. The company plans to raise ₹8,010 crore through a fresh issue of shares, while existing investors will partially exit through an offer for sale (OFS).
The filing comes roughly a month after Zepto received regulatory approval for its proposed IPO. With the latest submission, the Bengaluru-based startup is moving closer to becoming one of India’s most closely watched new-age technology listings and potentially the first pure-play quick commerce company to go public in the country.
Industry observers expect the issue to attract significant investor attention given Zepto’s rapid growth in the highly competitive quick commerce sector, where it competes with players such as Blinkit and Swiggy Instamart.
Fresh Issue Forms Core of IPO
According to the updated filing, Zepto will issue fresh equity shares worth ₹8,010 crore, with the capital expected to support expansion, technology investments, supply chain improvements, and strengthening of its dark store network. The fresh issue remains the largest component of the proposed public offering.
Based on the size of the offer for sale, the total IPO could eventually be valued between ₹9,000 crore and ₹10,000 crore, making it one of the largest technology-sector listings expected this year.
Nexus Ventures Emerges as Largest Seller
The offer for sale includes up to 113.47 million shares from several existing investors. Among them, Nexus Venture Partners is set to be the biggest seller, accounting for nearly 77% of the OFS portion through its affiliated investment entities.
Other investors participating in the OFS include Contrary ZEP Holdings, Razor Ventures Zepto LLC, Kaiser Foundation Hospitals, and Kaiser Permanente Group Trust. The sale will provide liquidity to early backers while allowing the company to raise fresh capital for future growth.
Founders Retain Their Stakes
Notably, founders Aadit Palicha and Kaivalya Vohra have chosen not to participate in the offer for sale. Their decision to retain their holdings is being viewed as a sign of confidence in the company’s long-term growth prospects and future public market performance.
The IPO is being launched under a SEBI framework that allows certain high-growth companies to go public despite not meeting traditional profitability requirements. As India’s quick commerce market continues to expand, Zepto’s listing is expected to serve as a key test of investor appetite for fast-growing consumer internet businesses.