Quick commerce firm Zepto is reportedly planning to launch an initial public offering (IPO) worth roughly $500 million in Mumbai, potentially as soon as next
week. According to a Bloomberg report citing sources familiar with the matter, the company is coordinating with Axis Bank Ltd., Motilal Oswal Investment Advisors Ltd., and the Indian divisions of Morgan Stanley, HSBC Holdings Plc, and Goldman Sachs Group Inc. to submit its draft prospectus via a confidential process. The much-anticipated public offering is expected to feature both a fresh issue of shares and secondary sales by current investors, with proceeds likely directed toward scaling the business, according to sources in the report. While discussions are still ongoing, specifics regarding the final size and timing of the IPO may evolve. Zepto, Goldman Sachs, and HSBC declined to comment on the matter, and other banks approached for comment did not respond in the report. India’s Quick-Commerce Market Heats Up India’s rapid delivery sector is experiencing a notable growth, with startups racing to develop dense networks of warehouses and delivery fleets to meet the surging demand for groceries and household essentials. International investors, including SoftBank Group Corp. and Temasek Holding, have injected billions into the space, positioning it as one of the world’s most closely watched experiments in ultra-fast delivery, according to the report. Zepto faces competition from both global and domestic players, including Amazon’s India operations, Swiggy Ltd., Zomato Ltd., and BigBasket, owned by the Tata Group. The proposed IPO comes on the heels of Zepto’s $450 million fundraising round in October this year, which valued the startup at $7 billion. As the company seeks to expand its footprint, the upcoming IPO marks a critical step in strengthening its position in India’s burgeoning quick-commerce market. Investors are keeping an eye on how the company will position its IPO.
