Quick Commerce Firm Zepto Secures SEBI Nod for USD 1.3 Bn IPO

Quick commerce platform Zepto has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO), marking a key step toward its public market debut.

The company, led by co-founder Aadit Palicha, is looking to raise about USD 1.2–1.3 billion (INR 10,000–12,000 crore) through the offering.

The IPO is expected to include a mix of fresh issue shares and an offer for sale by early investors. Zepto had opted for the confidential filing route, which allows firms to prepare their listing plans without disclosing detailed financial information upfront.

Founded in 2021 by Palicha and Kaivalya Vohra, Zepto has grown rapidly in India’s quick commerce sector, where deliveries are typically completed within minutes. It competes with players such as Blinkit and Swiggy Instamart in a highly competitive market.

The startup was last valued at around USD 7 billion after raising USD 450 million in 2025 and has secured over USD 2.3 billion in total funding so far. Its IPO, expected between July and September 2026, is likely to be closely watched by investors tracking the evolving quick commerce segment.

Financially, Zepto has reported strong growth alongside rising losses. For the year ended March 2025, its total income rose to INR 9,668.76 crore from INR 4,223.91 crore in FY24. However, its net loss widened to INR 3,367.28 crore, compared with INR 1,214.67 crore a year earlier.

Competition in the dark store network continues to intensify. Blinkit is projected to cross 2,100 dark stores by December 2025, while Swiggy Instamart and Zepto operated 1,136 and 1,150 stores, respectively. Flipkart and Amazon are also expanding their presence in this space over the coming years.