Quick Take
- Zepto filed an updated DRHP with SEBI for a fresh issue of Rs 8,010 Cr ($965 Mn).
- The offer adds an OFS of 113,466,566 shares; founders Palicha and Vohra sell nothing.
- Zepto targets a July 2026 listing, becoming India’s first pure quick commerce stock.
In This Article
The Zepto IPO took a big step forward. The quick commerce company filed an updated draft red herring prospectus (DRHP) with SEBI on June 8, 2026, proposing a fresh issue of Rs 8,010 Cr ($965 Mn) plus an offer for sale (OFS) of 113,466,566 shares.
The filing puts the total issue near Rs 10,000 Cr, per the updated prospectus (SEBI). Zepto aims for a July 2026 listing, which would make it the first pure quick commerce firm on Indian exchanges. It joins Blinkit parent Eternal and Swiggy, both already listed.
StartupFeed Insight
The structure tells a story most headlines miss. Zepto’s promoters are diluting zero stake, while early backers cash out via the OFS, per the updated DRHP. That signals founder conviction at a $7 Bn private mark, even as FY26 losses widened to Rs 5,905 Cr. The real test for StartupFeed readers is store-level economics: revenue more than doubled to Rs 22,623 Cr, yet break-even is unproven. Watch the roadshow for EBITDA guidance. We expect Zepto to set a price band by mid-July 2026, with the listing date hinging squarely on how convincingly management defends its path to profit. By StartupFeed Desk.
Zepto IPO Deal Breakdown
The Zepto IPO combines a Rs 8,010 Cr ($965 Mn) fresh issue with a 113 million share OFS, per the updated DRHP filed June 8, 2026. Here are the key numbers.
| Metric | Detail | Notes |
|---|---|---|
| Fresh Issue | Rs 8,010 Cr ($965 Mn) | New equity, per updated DRHP |
| OFS Size | 113,466,566 shares | Face value Rs 5 each |
| OFS Sellers | Nexus, Contrary, Razor, Kaiser | Early backers, partial exit |
| Promoter Stake Sold | Nil | Palicha, Vohra dilute nothing |
| Last Private Valuation | $7 Bn (Oct 2025) | $450 Mn round led by CalPERS |
| Filing Date | June 8, 2026 | Filed with SEBI |
The standout fact: founders sold no shares, while institutional backers used the OFS to lock in returns, according to the updated DRHP. Zepto was last valued at $7 Bn in October 2025.
About Zepto
Zepto is an Indian quick commerce company that delivers groceries in under 15 minutes. Founded in 2021 by Aadit Palicha and Kaivalya Vohra, it is headquartered in Bengaluru and operates a dark store model. As of March 2026, Zepto ran 1,139 dark stores and served 4.79 crore annual transacting users, per the updated DRHP. Top backers include Nexus, Contrary, and CalPERS.
How will Zepto use the funds?
Zepto will use the fresh issue proceeds to expand its dark store network, fund lease rentals, and strengthen technology and cloud infrastructure, according to the updated DRHP. The company plans to widen coverage across existing and new geographies. CEO Aadit Palicha had earlier framed the raise as a war chest for scale.
We are considering it a pre-IPO round, and we are hoping to file our IPO soon, Aadit Palicha, Co-Founder and CEO, Zepto.
The use of funds points to a clear goal: density. More stores closer to customers cut delivery costs and improve order economics over time. Zepto held roughly $900 Mn in net cash after its October 2025 round, per company statements.
Is Zepto profitable yet?
No, Zepto is not yet profitable, though its losses narrowed sharply in the latest quarter. The company posted a net loss of Rs 1,538.6 Cr in Q4 FY26, down from Rs 1,831.9 Cr in Q4 FY25, per the updated DRHP. Revenue from operations rose 75.2% YoY to Rs 7,497.6 Cr in the same quarter.
For the full year, the picture is mixed. Revenue more than doubled, surging +103.6% YoY to Rs 22,623.5 Cr in FY26 from Rs 11,109.9 Cr in FY25. However, full-year losses widened to Rs 5,905.1 Cr from Rs 4,699.7 Cr, per the filing. Zepto handled 210 million orders in Q4 FY26 alone.
How does Zepto compare to rivals?
Zepto competes directly with Blinkit, Swiggy Instamart, and newer entrants like Flipkart Minutes and Amazon Now. Zepto holds roughly 29-30% of India’s quick commerce market, per industry estimates. Unlike Blinkit (owned by Eternal) and Instamart (owned by Swiggy), Zepto is a standalone quick commerce business.
| Player | Parent | Listing Status |
|---|---|---|
| Zepto | Standalone (KiranaKart) | IPO filed, July 2026 target |
| Blinkit | Eternal | Listed |
| Instamart | Swiggy | Listed |
What makes Zepto different: it is the only major pure-play quick commerce firm seeking a public listing, giving investors a direct bet on the sector.
What’s Next
Zepto’s next milestone is a price band announcement, likely by mid-July 2026, ahead of its targeted July 31 listing. Investor roadshows will test management’s case on store profitability and EBITDA improvement. SEBI clearance remains the final gate before the IPO opens. Will Zepto’s scale story convince public market investors where private backers already bet big?
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Last updated: June 09, 2026 at 14:30 IST
Disclaimer: This article is for informational purposes only and does not constitute investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. The analysis above is based on publicly available information and should not be the sole basis for any investment decision. Please consult a SEBI-registered financial advisor before making investment decisions.
Written by Avinash Mishra, Published: June 09, 2026. Updated: June 09, 2026. Have a tip? Write to us at editorial@startupfeed.in.
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