Quick-commerce platform Zepto has taken another step toward its stock market debut by filing an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for its proposed initial public offering (IPO).
According to the updated filing, the IPO will comprise a fresh issue of shares worth ₹8,010 crore and an offer-for-sale (OFS) of 113 million shares by existing investors. Zepto initially filed its IPO documents through SEBI’s confidential pre-filing route in December 2025 and reportedly received regulatory approval in May 2026.
The OFS will see several early investors partially exit their holdings, including Nexus Venture Partners, Contrary Capital, Kaiser Permanente, and Razor Capital.
The company plans to use proceeds from the fresh issue to expand its network of dark stores across existing and new markets, fund lease-related expenses, strengthen technology and cloud infrastructure, and support marketing initiatives. As of 31 March, Zepto operated 1,139 dark stores across the country.
Founded in December 2020 as Kiranakart Technologies, the company was renamed Zepto Pvt Ltd in April 2025 and converted into a public limited company in December 2025.
Co-founders Aadit Palicha and Kaivalya Vohra, along with their families and family offices, collectively hold a 19.6% stake in the company.
For the quarter ended March 2026, Zepto reported a 75% year-on-year increase in operating revenue to ₹7,498 crore, while its net loss narrowed to ₹1,539 crore from ₹1,832 crore in the corresponding period last year, reflecting continued growth alongside improving operating metrics.
Here are some of the key risks listed by the company in its Updated Draft Red-Herring Prospectus (UDRHP):
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