MUMBAI – Quick-commerce player Zepto on Monday filed its updated draft IPO papers with markets regulator Sebi, taking it a step closer to its public listing targeted sometime in July, according to a report in Business Today.
IPO Details and Fundraising
The startup is seeking to raise up to Rs 8,010 crore through a fresh issue of shares, according to the report. A bunch of the company's existing investors including Nexus Venture Partners and Contrary are collectively selling up to 11.3 crore shares in the IPO as part of an offer for sale. Zepto's total issue size is estimated at $1 billion (Rs 9,000-9,500 crore), the report said.
The company had previously filed for IPO through the confidential route in December last year, it added.
Valuation and Market Standing
Zepto is targeting a valuation of about $10 billion, said people aware of the matter cited in the report. The startup was last valued at $7 billion in its previous funding round, marking a potential valuation increase of over 40% in a relatively short period.
The instant delivery market in India is led by Blinkit (owned by Zomato's Eternal) with over 40% market share, while Instamart (owned by Swiggy) and Zepto each command over 20% market share, according to analysts quoted in the report.
Competitive Landscape
| Company | Parent | Market Share (Approx.) |
|---|---|---|
| Blinkit | Eternal (Zomato) | Over 40% |
| Instamart | Swiggy | Over 20% |
| Zepto | Independent | Over 20% |
Zepto competes directly with Blinkit and Swiggy's Instamart in the fast-growing quick-commerce segment, which focuses on delivering groceries and household items within minutes. The market has seen intense competition and rapid expansion, with players investing heavily in dark stores and logistics networks.
Investor Implications
The IPO represents a significant milestone for the Indian startup ecosystem and will be closely watched by institutional investors, finance executives, and treasury professionals. For CFOs and corporate treasurers, the listing of a high-growth quick-commerce player offers a benchmark for valuations in the e-commerce and logistics sectors. The successful completion of the IPO could also influence liquidity in the Indian capital markets and provide a reference for other startups planning public offerings.
While the report does not specify the exact timeline for the IPO beyond a July target, the filing of the updated DRHP indicates that all regulatory procedures are on track. Market participants will be looking at the final price band, subscription levels, and listing-day performance to gauge investor appetite for quick-commerce companies in India.
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