Zepto To Float ₹11,000 Cr IPO By July: Report

Quick commerce platform Zepto reportedly plans to float its ₹11,000 Cr ($1.1 Bn) initial public offering (IPO) within the next two months. 

Sources told news agency PTI that the unicorn is eyeing a listing on the bourses before July 31. The company is now planning to submit its updated draft red herring prospectus (UDRHP) with the markets regulator in the coming weeks. 

If the listing materialises, Zepto will become the third quick commerce startup to list on the bourses, after Blinkit parent Eternal and Swiggy. 

This comes weeks after the quick commerce giant received Securities and Exchange Board of India’s (SEBI’s) approval for its proposed IPO. Previous reports suggested that the company’s potential public issue would largely comprise a primary capital raise, although the final issue size and pricing are yet to be finalised.

In December 2025, the startup received board’s approval to raise up to ₹11,000 Cr through a fresh issue of shares via its public offering. Subsequently, it filed its DRHP with SEBI via the confidential pre-filing route for a listing.

Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto is among the leading players in India’s rapidly expanding quick commerce space. The startup competes with Blinkit, Swiggy Instamart, and newer entrants such as Amazon Now and Flipkart Minutes.

According to a recent report by brokerage firm Bernstein, Zepto reportedly operates nearly 1,255 dark stores across 61 cities, overtaking second-placed Instamart that runs 1,181 dark stores spanning 128 cities. The analysis also showed that Zepto’s daily order volume stands at nearly 1.6 Mn compared to Instamart’s estimated 1.2 Mn.

The Aadit Palicha-led company last raised $450 Mn, in a mix of primary and secondary transactions, in October last year, which valued the company at $7 Bn. The unicorn has raised over $2.3 Bn to date and counts names such as Epiq Capital, Dragon Fund, General Catalyst, Y Combinator and DST Global as investors. 

The development comes amid intensifying competition in the quick commerce segment, with players trying to retain customers as users increasingly switch platforms based on delivery speed, pricing and product availability. 

As a result, the sector is witnessing aggressive expansion, with companies investing heavily to capture a larger share. Most recently, Amazon announced that it would invest ₹2,800 Cr in India, primarily to expand its quick commerce service Amazon Now to 100 cities across the country. Arch-rival Flipkart is also aggressively splurging to ramp up its dark store network. 

At the heart of all this is India’s quick commerce market, which is projected to become a $40 Bn opportunity by 2030. As per Inc42 data, quick commerce players are expected to clock $68 Bn in gross merchandise value (GMV) by 2031, up from $8.3 Bn currently.

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