Indian quick-commerce company Zepto has filed for an initial public offering (IPO) worth ₹110 billion (approximately $1.22 billion) through the confidential route, the company said on Monday. The listing is expected to be among the most closely watched IPOs in the country’s fast-growing digital commerce space.
Founded in 2021, Zepto operates in the highly competitive quick-commerce segment, offering over 45,000 products across categories ranging from groceries to electronics. The company competes with major rivals including Eternal-owned Blinkit and Swiggy Instamart, as platforms race to capture India’s expanding urban consumer base that is increasingly opting for 10-minute deliveries.
The Bengaluru-based firm was last valued at $7 billion during its previous funding round in October, when it raised $450 million from investors. Like its peers, Zepto has been investing heavily in expanding its network of dark stores to strengthen last-mile delivery capabilities.
Zepto filed its draft papers with the Securities and Exchange Board of India (SEBI) last week via the confidential route, which allows companies to keep IPO details private until closer to the launch, offering greater flexibility on timing and disclosures.
