Zepto files confidential IPO papers, aims fo Rs 11,000 Cr issue

Quick commerce unicorn Zepto has filed preliminary papers with markets regulator SEBI to raise Rs 11,000 crore through its initial public offering (IPO) using a confidential route, according to a person aware of the development.

Zepto has opted for the confidential pre-filing route, which allows the company to engage with the Securities and Exchange Board of India (SEBI) for initial feedback on its draft document without it being publicly disclosed.

This route has been increasingly favoured by companies seeking more flexibility in their IPO preparations and responding to market conditions before a public filing.

If the listing goes through, Zepto will join its rivals Zomato and Swiggy, both of which are already listed on the exchanges.

Eternal, which owns Zomato and quick commerce platform Blinkit, was listed in 2021, while Swiggy, which operates Instamart, made its stock market debut in November 2024.

This comes just months after Zepto raised $450 million in a mix of primary and secondary rounds led by US-based pension fund California Public Employees' Retirement System (CalPERS). The latest round values the company at $7 billion, along with giving it a war chest to defend and expand its quick commerce market share.

“This financing is a reflection of our team's execution to grow the business rapidly while consistently building operating leverage,” Chief Executive Aadit Palicha had earlier said. He added that Zepto now holds about $900 million in net cash.

As of September 2025, the company had more than 900 dark stores, burned Rs 1,000-1,100 crore in cash and garnered gross sales of $3 billion, or about Rs 26,000 crore.