Zepto to raise Rs 1,000 Cr in pre-IPO round at $4.5B valuation; public listing delayed

Quick-commerce unicorn Zepto is set to raise approximately Rs 1,000 crore in a pre-IPO funding round at a valuation of around $4.5 billion, and has pushed back its initial public offering timeline, sources privy to the matter said.

The capital infusion is expected to be led primarily by domestic investors to raise Indian shareholding in the company, which currently stands at around 40%.

Zepto’s IPO, earlier targeted for July 2026, is held off for the time being, sources said.

A mail sent to Zepto did not elicit any response.

The $4.5 billion valuation marks a moderation from $7 billion valuation Zepto commanded in October 2025, when it raised $450 million in a funding round led by the California Public Employees' Retirement System (CalPERS).

Founded by Stanford University dropouts Aadit Palicha and Kaivalya Vohra, Zepto filed its preliminary IPO papers in December 2025 through the confidential pre-filing route with the Securities and Exchange Board of India (Sebi).

According to the updated draft papers filed with markets regulator Sebi, Zepto is set to raise Rs 8,010 crore through a fresh issue of shares as part of its proposed initial public offering (IPO).

Along with the fresh issue, there will be an offer for sale (OFS) of 11.35 crore equity shares by existing shareholders.

If the listing goes through, Zepto will join Eternal and Swiggy on the stock exchanges, competing directly with their respective quick-commerce arms, Blinkit and Instamart.

For FY26, Zepto reported revenue from operations of Rs 22,624 crore and net receivables value (NRV) of Rs 24,816 crore.

The company processed an average of 17.5 lakh orders per day during the year and had 1,139 stores as of March 31, 2026. Its annual transacting user base stood at nearly 48 million.

During the quarter ended March 2026, Zepto handled around 210 million orders, translating into about 23.3 lakh orders per day.