Newsletter
Quick commerce player Zepto has got the green light from SEBI for its much-awaited IPO, according to sources.
What’s brewing: the company is looking to raise around $1.2-1.3 billion and it will likely include a mix of fresh shares and an offer for sale by early investors looking to cash out.
If things go as planned, Zepto could hit the stock market by the end of June. That would make it one of the fastest Indian startups to go public.
Big picture: Zepto isn’t entering an easy arena. It goes head-to-head with Blinkit, backed by Eternal, and Swiggy, both already listed. At the same time, competition is heating up from giants like Amazon, Flipkart, and Reliance’s JioMart, all pushing deeper into quick delivery.
If it lists now, it would be going public in under six years. For context, startups like Mamaearth and Ola Electric took about 7 to 8 years to reach the same stage.
The challenges: Zepto is heading to the market during a phase of global uncertainty.
Ongoing tensions in the Middle East have added volatility, and Indian stock markets are already under pressure in recent months. In fact, PhonePe recently paused its IPO plans due to the same conditions.
But there’s a strong growth story too. India already has 26.2 million quick commerce users as of 2024, and that number is expected to more than double to 60.6 million by 2029.
