Zepto IPO: Quick commerce platform makes confidential filing with SEBI, sources say

Quick commerce platform Zepto has filed draft papers for its $1.3-billion (about Rs 11,682 crore) initial public offering (IPO) with market regulator Securities and Exchange Board of India (Sebi), people with knowledge said.

ET had reported on December 25 that the Adit Palicha-led company had raised around Rs. 11,000 crore, the rest to early stage investors who are offering shares for sale.

Zepto, which will be the youngest company to hit the public markets, got the green light from its shareholders at an extraordinary general meeting (EGM) on December 23.

Morgan Stanley, Axis Capital, HSBC, Goldman Sachs, JM Financial, IIFL Securities and Motilal Oswal are the bankers for Zepto’s issue. The quick commerce firm shifted its base back to India from Singapore in January.

Zepto closed a $450-million round in October, in a mix of primary and secondary transactions, valuing the company at $7 billion.

Zepto did not respond to ET’s queries.

Bengaluru-based Zepto competes with the likes of Swiggy and Zomato’s parent Eternal, both of which are listed. The company is planning to list in the July-September quarter of 2026. The confidential filing — a route also taken by the likes of Swiggy, Meesho and Grove — will allow Zepto to refine its IPO size before eventually launching an issue.