Zepto IPO Delayed? Valuation Gap & BigBasket Losses Mount

Quick commerce firm Zepto is contemplating a postponement of its initial public offering (IPO) due to a notable valuation gap. Institutional investors have proposed a valuation between $2.5-3 billion, significantly below its previous private valuation of $7 billion.

This comes as Zepto’s draft IPO papers are set to expire on August 21. The company is also reportedly considering a 20% reduction in its planned issue size from the original Rs 8,010 crore.

Key Zepto IPO Figures

• Proposed Institutional Valuation: $2.5-3 billion
• Previous Private Valuation: $7 billion
• Draft IPO Paper Expiry: August 21
• Planned Issue Size Reduction: 20%
• Anchor Book Share Price: Rs 18.76

Efforts to attract high-net-worth individuals and retail investors for its anchor book have seen limited success. Several large mutual funds have shown little interest in the offering at the stated price.

BigBasket’s Widening Losses

BigBasket’s consumer business reported a substantial increase in losses for the fiscal year 2026, widening by 66% year-on-year. Losses reached Rs 3,073 crore in FY26, up from Rs 1,850 crore in FY25.

This occurred despite a 7.7% rise in revenue, which climbed to Rs 8,223 crore from Rs 7,634 crore. The company recently appointed Amazon veteran Amit Nanda as its new CEO, with a mandate to guide the business toward profitability amidst fierce competition.

OfBusiness Profit Surge

SoftBank-backed OfBusiness released its FY26 financials, showing a 7% decrease in revenue to Rs 20,645 crore. However, the company reported a 21% increase in net profit, reaching Rs 724 crore.

Rapido’s Ownly Expands

Rapido’s food delivery service, Ownly, is gearing up for a multi-city expansion in the upcoming quarter. Launched in Bengaluru on March 15, Ownly has demonstrated strong month-on-month growth.

• Restaurants Onboarded: 25,000
• Average Order Value (AOV): Rs 200-220

The platform operates on a zero-commission model for restaurants, relying solely on delivery charges for revenue. It plans to leverage Rapido’s existing platform for customer acquisition.

Bengaluru Restaurants Threaten Boycott

Hotel and restaurant associations in Bengaluru have issued a warning of a potential boycott against food delivery giants Swiggy and Zomato within 15 days. Their concerns revolve around high commission rates.

These rates range from 30% to 45%, alongside the burden of funding discounts. Additionally, platforms’ refusal to share customer data with restaurant partners remains a key issue for the associations.

Apple Briefly Hits $5 Trillion

Globally, Apple briefly surpassed a $5 trillion market valuation, becoming only the second company after Nvidia to achieve this milestone. Its shares later settled slightly lower at approximately $4.96 trillion.