Zepto Plans Rs 8,010 Crore IPO, Investors to Offload Over 11 Crore Shares

Quick commerce platform Zepto filed an updated draft red herring prospectus (DRHP) for its proposed initial public offering (IPO), planning to raise Rs 8,010 crore entirely through a fresh issue of equity shares alongside a separate secondary market component.

The company is poised to become the first dedicated quick commerce entity to debut on the domestic stock exchanges in the coming months, marking an infrastructural evolution in the consumer delivery landscape.

According to the updated DRPH from Zepto filed with the Securities and Exchange Board of India (SEBI), the IPO comprises a fresh issue size of "up to equity shares of face value ₹ 5 each aggregating up to ₹ 80,100.00 million" and a separate offer-for-sale segment.

The secondary market component involves "up to 113,466,566 equity shares of face value ₹ 5 each..." to be offloaded by its existing investment backers.

The regulatory document clarifies that the share offloading will be executed by multiple institutional entities holding stakes in the startup.

Which Investors Are Offloading Shares in the Offer-for-Sale?

As stated in the prospectus, the offer incorporates sales by Nexus Ventures VI Holdings, LLC which proposes to offload "up to 57,357,141 equity shares" and Nexus Ventures VII Holdings, LLC looking to divest "up to 30,398,907 equity shares".

The document further details additional participating institutional sellers in the offer-for-sale framework including Contrary ZEP Holdings LLC offloading "up to 7,801,378 equity shares", Razor Ventures Zepto LLC offloading "up to 9,364,174 equity shares", Kaiser Foundation Hospitals selling "up to 4,385,912 equity shares", and Kaiser Permanente Group Trust offloading "up to 4,159,054 equity shares".

Motilal Oswal Investment Advisors, Morgan Stanley India Company, Goldman Sachs (India) Securities, JM Financial, IIFL Capital Services, HSBC Securities and Capital Markets (India), and Axis Capital are the book running lead managers for the IPO.

The updated DRHP outlines the company's financial trajectories over the past three fiscal periods, showcasing a sharp scaling up of operational revenues.

The delivery network recorded operational revenue of Rs 2,26,235.84 million for the financial year ended March 31, 2026, marking an increase from Rs 1,11,099.47 million in the fiscal year 2025 and Rs 44,545.16 million in the fiscal year 2024.

This rapid expansion of the revenue baseline occurred alongside a corresponding broadening of operational expenses and overall net losses.

Zepto reported a restated loss for the year of Rs 59,051.92 million for the period ended March 31, 2026, expanding from a restated loss of Rs 46,997.14 million during the financial year 2025 and a loss of Rs 12,147.94 million filed during the financial year 2024.

(With inputs from ANI)