Zepto files updated IPO prospectus to raise 11,000 crore

Zepto, a leading quick commerce startup, has filed updated papers with Indian market regulators, taking a definitive step toward an initial public offering expected to raise up to 11,000 crore rupees. The proposed listing, which could occur as soon as July 2026, would mark a significant milestone for India's high-growth, yet loss-making, quick commerce sector.

The company's updated draft red herring prospectus outlines an offering comprising a fresh issue of shares worth 8,010 crore rupees and an offer for sale of up to 11.35 crore shares by existing investors. The founders, Aadit Palicha and Kaivalya Vohra, will not sell any of their shares in the offering. Early backers including Nexus Venture Partners, Razor Ventures, Contrary ZEP Holdings, and funds affiliated with Kaiser Foundation Hospitals are among the selling shareholders.

Proceeds from the fresh capital raise are earmarked for expanding Zepto's dark store network, covering lease rentals, investing in technology and cloud infrastructure, and funding marketing and potential acquisitions. The company's financial disclosures reveal a business scaling at a remarkable pace while grappling with substantial losses. Revenue...