Zepto Gets A Step Closer To Launching Its IPO

Quick commerce and grocery-delivery start-up Zepto is now a step closer to getting approval from the Securities and Exchange Board of India (SEBI) to proceed with its Initial Public Offering (IPO).

Zepto filed a confidential Draft Red Herring Prospectus (DRHP) in December 2025 with the Securities and Exchange Board of India, for a $1.30 billion (₹11,000–12,000 crore) IPO.

The decision followed shareholder approval granted on December 23 at an extraordinary general meeting, paving the way for founders Aadit Palicha and Kaivalya Vohra to take the company public at a notably early stage.

Next Steps In The IPO Process

Zepto is yet to refile its prospectus with updated FY26 numbers. The company is also in the process of completing its “testing-the-waters” (TTW) phase—something expected over the next 2–3 weeks.

The company is expected to secure final approval after putting forward its revised prospectus. Before that stage, TTW acts as a pre-marketing route; one that lets emerging growth companies engage qualified institutional buyers and accredited institutional investors ahead of filing a registration statement, mainly to test investor appetite and fine-tune valuation without making anything public.

Once the company files formal papers, Zepto IPO details, like opening and closing dates and price band, will become clear.

Company Background & Financials

Zepto was founded in 2021 as a local grocery aggregator, “Kiranakart”. Initially, it delivered groceries across Mumbai and the adjoining neighbourhoods. By 2025, the company expanded its operations to pan-India and was renamed “Zepto”.

Zepto is scaling its revenue significantly; at the same time, it continues to report losses typical of the industry.

In its latest funding round, Zepto was valued at $7 billion. It raised $450 million then, taking total funding so far to over $2.3 billion.

As of March 2026, the company’s cash reserves stood at around $600 to $700 million. In comparison, the company’s peers, such as Blinkit and Swiggy, had cash reserves of $1.9 billion and $1.7 billion, reflecting differences in scale and operational maturity.

Also Read - Post-Market, 10 April 2026: Sensex Rises 918 Points, Nifty 50 Gains 1.16%

Investor Takeaway

A sharp rise in revenue suggests the quick commerce segment is seeing stronger demand than before. However, as Zepto nears its public debut, persistent losses and heavy competition continue to cast a shadow on it.

Zepto’s confidential DRHP filing marks an early but important step toward its potential IPO. However, the timeline and final terms of the offering will depend on regulatory progress, market conditions, and investor response.

Sources:

Financial Express

ET Retail

Moneycontrol

Scanx Trade