Zepto is looking to secure around $500 million in fresh capital at a valuation of nearly $4.5 billion, as the quick-commerce company shifts its focus towards
strengthening its ownership structure ahead of a future public listing. The latest fundraising effort is expected to be driven largely by domestic investors, in an effort to increase Indian ownership in the company. At present, Indian shareholders collectively hold nearly 40 per cent of Zepto. According to a PTI report citing sources, the company's much-anticipated initial public offering (IPO), which was earlier expected around July 2026, has been deferred for now. The proposed fundraising values Zepto at $4.5 billion, representing a significant reduction from the $7 billion valuation it achieved in October 2025. At that time, the startup had raised $450 million in a funding round led by the California Public Employees' Retirement System (CalPERS). The revised valuation reflects a recalibration as the company prepares for its next stage of expansion and eventual stock market debut. Founded by Stanford University dropouts Aadit Palicha and Kaivalya Vohra, Zepto had taken the confidential filing route for its public issue, submitting draft IPO papers to the Securities and Exchange Board of India (SEBI) in December 2025. As per the updated draft documents filed with the regulator, the company intends to raise Rs 8,010 crore through a fresh issue of equity shares. The proposed IPO will also include an offer for sale (OFS) of 11.35 crore equity shares by existing investors, allowing some shareholders to partially exit their investments. If the public issue proceeds, Zepto will become the latest quick-commerce player to debut on the stock exchanges, joining Eternal and Swiggy, whose quick-commerce businesses operate under the Blinkit and Instamart brands, respectively. Strong FY26 Performance Supports Growth Story Despite postponing its IPO timeline, Zepto reported robust business growth during FY26. The company posted revenue from operations of Rs 22,624 crore, while its net receivables value (NRV) stood at Rs 24,816 crore. Operationally, Zepto processed an average of 17.5 lakh orders every day during the financial year and expanded its network to 1,139 stores as of March 31, 2026. Its annual transacting customer base reached nearly 48 million users, underlining the rapid adoption of quick-commerce services across the country. For the quarter ended March 2026, the platform handled approximately 210 million orders, averaging around 23.3 lakh orders per day, highlighting continued momentum in demand. (With agency inputs)
