Zepto Eyes ₹1,000 Cr Pre-IPO Funding, Delays Listing

Quick commerce firm Zepto is seeking to raise Rs 1,000 crore in a pre-IPO funding round, delaying its anticipated public listing from July 2026. This fundraise is expected to value the company at approximately $4.5 billion.

Key Financials & Metrics

• Pre-IPO Fundraise Target: Rs 1,000 crore
• New Valuation Estimate: $4.5 billion
• Previous Valuation (Oct 2025): $7 billion
• IPO Fresh Issue Target: Rs 8,010 crore
• OFS Equity Shares: 11.35 crore
• FY26 Revenue from Operations: Rs 22,624 crore
• FY26 Net Receivables Value: Rs 24,816 crore
• Stores (March 31, 2026): 1,139
• Annual Transacting Customers: Nearly 48 million
• Q1 March 2026 Orders Fulfilled: Approximately 210 million

Valuation Shift & Ownership Push

The projected $4.5 billion valuation marks a decrease from Zepto’s $7 billion valuation in October 2025, which followed a $450 million funding round led by the California Public Employees’ Retirement System (CalPERS). The current capital raise primarily aims to increase Indian ownership within the company, currently around 40 percent.

IPO Preparations Underway

Founded by Aadit Palicha and Kaivalya Vohra, Zepto confidentially submitted its draft IPO documents to the Securities and Exchange Board of India (SEBI) in December 2025. The public offering intends to raise Rs 8,010 crore through a fresh issue of equity shares. Additionally, an Offer for Sale (OFS) of 11.35 crore equity shares by existing shareholders is planned.

Operational Performance Highlights

Zepto reported robust operational growth for fiscal year 2026, competing in the quick commerce sector against players like Eternal (Blinkit) and Swiggy (Instamart). The company’s revenue from operations reached Rs 22,624 crore, with its Net Receivables Value (NRV) at Rs 24,816 crore.

Delivery Network Scale

In FY26, Zepto processed an average of 17.5 lakh orders per day and operated 1,139 stores as of March 31, 2026. Its annual transacting customer base neared 48 million users. During the quarter ending March 2026, Zepto fulfilled approximately 210 million orders, averaging nearly 23.3 lakh orders daily.

This strategic pre-IPO round and delayed public listing positions Zepto to solidify its market standing against competitors like Eternal (Blinkit) and Swiggy (Instamart). The quick commerce sector in India continues to experience intensifying competition.