Quick commerce major Zepto has taken a significant step towards going public by pre-filing draft papers for an over $1.3 Bn (approximately INR 11,682 Cr) initial public offering (IPO) with the markets regulator SEBI. The development marks a crucial milestone for the Aadit Palicha-led startup and signals growing maturity in India’s fast-evolving quick commerce ecosystem.
As reported earlier, Zepto plans to raise around INR 11,000 Cr through a fresh issue of shares, which will primarily be used to fuel the company’s next phase of growth. In addition to the fresh issue, the proposed IPO is also expected to include an offer for sale (OFS) by some of the company’s early investors, enabling partial exits while maintaining long-term participation in the business.
According to sources, Zepto has already received shareholder approval for the IPO at an extraordinary general meeting (EGM) held on December 23, clearing an important regulatory and governance hurdle ahead of the public listing. The company has not yet officially commented on the development. The story is expected to be updated once the company shares its response.
The IPO will be managed by a strong consortium of investment bankers, including Morgan Stanley, Axis Capital, HSBC, Goldman Sachs, JM Financial, IIFL Securities, and Motilal Oswal. The presence of both global and domestic banking heavyweights underscores strong institutional interest in Zepto’s public market debut and confidence in the company’s business model and growth prospects.
Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has rapidly emerged as one of the leading players in India’s quick commerce space, promising ultra-fast grocery and essentials delivery, often within 10 minutes. The startup operates a dense network of dark stores and has expanded aggressively across major metros and Tier I cities, competing with players such as Blinkit, Swiggy Instamart, and BigBasket’s BB Now.
Over the past few years, Zepto has focused on improving unit economics, supply chain efficiency, and operational discipline, amid heightened scrutiny on cash burn and profitability across the startup ecosystem. The company has also diversified its offerings beyond groceries to include categories such as personal care, electronics accessories, and daily household essentials, boosting average order values and customer stickiness.
If successful, Zepto’s IPO could become one of the largest new-age tech listings in India, setting a benchmark for consumer internet and quick commerce startups contemplating public markets. The move also reflects increasing investor confidence in the long-term potential of India’s on-demand commerce sector.
As Zepto inches closer to its public market debut, the IPO is likely to be closely watched by investors, founders, and policymakers alike, potentially shaping the future narrative of India’s fast-growing quick commerce industry.
