Quick commerce platform Zepto has filed confidential draft papers for its Rs 11,000-crore initial public offering (IPO) with the Securities and Exchange Board of India (SEBI), according to a report by The Economic Times.
The Aadit Palicha-led startup plans to raise around $1.3 billion (approximately Rs 11,682 crore). A major portion of the issue will come from fresh equity, while the remaining part will include an offer for sale (OFS) by early investors.
Shareholder Approval and IPO Timeline
Zepto received shareholder approval for the IPO during an extraordinary general meeting on December 23. With this move, the Bengaluru-based firm has become one of the youngest startups to prepare for a public listing.
The company is targeting a stock market debut in the July–September quarter of 2026.
Top Investment Banks on Board
Zepto has appointed leading investment banks as book-running lead managers. The list includes Morgan Stanley, Axis Capital, HSBC, Goldman Sachs, JM Financial, IIFL Securities, and Motilal Oswal.
Earlier this year, Zepto shifted its domicile from Singapore back to India, aligning with its public market plans.
Recent Funding and Valuation
In October, Zepto raised $450 million through a mix of primary and secondary transactions. This round valued the company at $7 billion.
Zepto competes with listed players such as Swiggy and Zomato-parent Eternal in India’s fast-growing quick commerce space.
Why Companies Choose the Confidential IPO Route
Several companies have recently opted for the confidential filing route for IPOs. Major names include Tata Capital, Swiggy, Meesho, PhysicsWallah, and Groww.
This approach allows companies to test investor sentiment without public scrutiny. It also offers flexibility on valuation and timing, especially in volatile market conditions. Additionally, confidential filings help protect sensitive financial and operational data from competitors.
Under SEBI rules, companies must launch an IPO within 12 months of approval. However, firms using the confidential route get up to 18 months to go public.
For more latest updates, click here.