Quick commerce platform Zepto has taken a major step towards its stock market debut after its board approved a proposal to raise up to ₹11,000 crore through a combination of a fresh equity issue and an offer for sale (OFS) by existing shareholders.
The decision comes as the company prepares to confidentially file its draft red herring prospectus (DRHP) on December 26, according to regulatory filings. Zepto has also recently transitioned into a public limited company, a key regulatory requirement ahead of an initial public offering (IPO).
Founded by Aadit Palicha and Kaivalya Vohra, Zepto has seen a sharp acceleration in scale over the past year, albeit accompanied by widening losses. For the financial year ended March 2025, the company reported turnover including other income of ₹9,668.76 crore, more than double the ₹4,223.91 crore recorded in FY24.
However, the aggressive expansion has weighed on profitability. Zepto’s net loss widened to ₹3,367.28 crore in FY25, compared with ₹1,214.67 crore in the previous fiscal, reflecting higher spending on logistics, marketing, dark store expansion, and technology.
The IPO push follows a $450 million funding round completed recently as part of the company’s pre-listing capital expansion. Since inception, Zepto has raised $2.3 billion, including nearly $1.8 billion since January last year, underlining strong investor appetite for the quick commerce segment.
Zepto was last valued at around $7 billion, making it one of India’s most valuable consumer internet startups. With its planned listing, Zepto is set to become the third quick commerce player to hit Indian stock exchanges, after Eternal and Swiggy, which operate Blinkit and Instamart, respectively.
The move signals growing maturity in India’s quick commerce sector, even as competition intensifies and profitability remains a key challenge.
Follow Startupbydoc for daily startup insights, funding news, IPO analysis, and business breakdowns.